PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by Vertical Research

Key Points

• PACCAR has been upgraded to a "strong-buy" rating by Vertical Research, indicating increased analyst confidence in the stock's potential.
• Despite some analysts issuing ratings from "sell" to "hold," a consensus price target for PACCAR stands at $106.45, suggesting a favorable outlook for investors.
• In the latest earnings report, PACCAR achieved $1.37 earnings per share, surpassing estimates, although revenue declined by 15.7% compared to the previous year.

PACCAR (NASDAQ:PCAR - Get Free Report) was upgraded by analysts at Vertical Research to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Citigroup upped their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Evercore ISI cut their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Royal Bank Of Canada cut their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Truist Financial dropped their target price on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.77.

PACCAR Price Performance

Shares of PACCAR stock traded down $0.93 during trading hours on Wednesday, reaching $100.64. The company's stock had a trading volume of 3,003,774 shares, compared to its average volume of 3,330,387. The firm has a 50 day moving average price of $95.03 and a 200-day moving average price of $98.20. PACCAR has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.73 and a quick ratio of 1.40. The stock has a market cap of $52.83 billion, a P/E ratio of 16.02, a P/E/G ratio of 4.05 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm's revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 EPS. On average, analysts predict that PACCAR will post 7.57 EPS for the current year.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director directly owned 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after acquiring an additional 290 shares during the period. Sei Investments Co. lifted its holdings in PACCAR by 3.6% during the fourth quarter. Sei Investments Co. now owns 126,268 shares of the company's stock valued at $13,134,000 after purchasing an additional 4,422 shares in the last quarter. LPL Financial LLC lifted its stake in shares of PACCAR by 6.1% in the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company's stock worth $22,094,000 after buying an additional 12,143 shares in the last quarter. TIAA Trust National Association raised its stake in PACCAR by 19.1% during the fourth quarter. TIAA Trust National Association now owns 3,479 shares of the company's stock worth $362,000 after purchasing an additional 558 shares during the period. Finally, Korea Investment CORP raised its stake in PACCAR by 52.3% during the fourth quarter. Korea Investment CORP now owns 343,238 shares of the company's stock worth $35,704,000 after purchasing an additional 117,913 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Company Profile

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.