PACCAR (NASDAQ:PCAR) Lifted to “Buy” at StockNews.com

PACCAR (NASDAQ:PCAR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other research analysts also recently commented on PCAR. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial dropped their price objective on PACCAR from $121.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group increased their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.25.

PACCAR Stock Performance

Shares of PACCAR stock opened at $97.60 on Wednesday. PACCAR has a 52 week low of $80.94 and a 52 week high of $125.50. The business’s fifty day simple moving average is $105.46 and its 200-day simple moving average is $108.49. The firm has a market cap of $51.16 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 30.53%. PACCAR’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 EPS. Equities analysts forecast that PACCAR will post 8.35 earnings per share for the current year.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other PACCAR news, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 33,850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares in the company, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PSI Advisors LLC bought a new position in PACCAR in the 1st quarter valued at approximately $25,000. YHB Investment Advisors Inc. bought a new position in shares of PACCAR during the first quarter valued at $27,000. New Covenant Trust Company N.A. bought a new position in shares of PACCAR during the first quarter valued at $27,000. Riverview Trust Co bought a new position in shares of PACCAR during the first quarter valued at $29,000. Finally, Rise Advisors LLC bought a new position in shares of PACCAR during the first quarter valued at $31,000. Institutional investors own 64.90% of the company’s stock.

About PACCAR

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.