Truist Financial Lowers PACCAR (NASDAQ:PCAR) Price Target to $98.00

PACCAR (NASDAQ:PCAR - Get Free Report) had its price objective cut by stock analysts at Truist Financial from $102.00 to $98.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price objective would suggest a potential downside of 3.38% from the company's current price.

A number of other brokerages also recently commented on PCAR. Royal Bank Of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Citigroup upped their price objective on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Wall Street Zen downgraded PACCAR from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and raised their target price for the stock from $81.00 to $100.00 in a research report on Wednesday. Finally, Evercore ISI lowered their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $106.68.

PACCAR Stock Up 0.3%

Shares of PCAR traded up $0.32 during midday trading on Wednesday, hitting $101.43. The company had a trading volume of 4,415,472 shares, compared to its average volume of 3,303,418. PACCAR has a 1 year low of $84.65 and a 1 year high of $118.81. The firm has a market capitalization of $53.25 billion, a P/E ratio of 17.37, a P/E/G ratio of 3.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73. The company's 50-day simple moving average is $94.94 and its 200-day simple moving average is $98.40.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm's quarterly revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts expect that PACCAR will post 7.57 EPS for the current year.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is owned by insiders.

Institutional Investors Weigh In On PACCAR

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. increased its stake in PACCAR by 33.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after buying an additional 116 shares during the period. RMR Wealth Builders boosted its holdings in shares of PACCAR by 1.4% in the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock valued at $848,000 after acquiring an additional 122 shares in the last quarter. Applied Capital LLC FL increased its stake in shares of PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after acquiring an additional 124 shares during the period. Nicolet Advisory Services LLC raised its holdings in PACCAR by 3.7% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company's stock worth $373,000 after purchasing an additional 125 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in PACCAR by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock valued at $4,390,000 after purchasing an additional 130 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.