PACCAR (NASDAQ:PCAR - Get Free Report) was upgraded by analysts at Argus from a "hold" rating to a "buy" rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has a $121.00 price target on the stock. Argus' price objective points to a potential upside of 19.13% from the company's current price.
A number of other equities analysts also recently weighed in on PCAR. Truist Financial dropped their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, PACCAR has an average rating of "Moderate Buy" and a consensus target price of $107.77.
Check Out Our Latest Stock Analysis on PACCAR
PACCAR Stock Up 0.1%
PACCAR stock opened at $101.57 on Monday. The company has a market capitalization of $53.32 billion, a P/E ratio of 17.39, a P/E/G ratio of 4.05 and a beta of 0.94. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 1.73, a quick ratio of 1.40 and a debt-to-equity ratio of 0.55. The firm's fifty day simple moving average is $95.03 and its 200-day simple moving average is $98.20.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the business posted $2.13 EPS. The business's quarterly revenue was down 15.7% on a year-over-year basis. Sell-side analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director directly owned 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.
Institutional Trading of PACCAR
Several large investors have recently added to or reduced their stakes in the stock. E Fund Management Hong Kong Co. Ltd. raised its position in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of PACCAR in the first quarter valued at $29,000. Finally, Sunbelt Securities Inc. grew its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
About PACCAR
(
Get Free Report)
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.
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