PACCAR (PCAR) Upgraded at BidaskClub
PACCAR (NASDAQ:PCAR) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, September 5th. Buckingham Research initiated coverage on shares of PACCAR in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price target on the stock. ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of PACCAR in a research note on Friday, September 1st. Finally, Deutsche Bank reissued a “hold” rating and issued a $78.00 price objective (up previously from $75.00) on shares of PACCAR in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $75.60.
Shares of PACCAR (NASDAQ:PCAR) traded up $1.10 on Thursday, reaching $71.22. 1,842,483 shares of the company’s stock were exchanged, compared to its average volume of 1,924,264. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. PACCAR has a 1 year low of $61.93 and a 1 year high of $75.68. The company has a market capitalization of $24,672.49, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.68 and a beta of 1.22.
In other PACCAR news, VP Alma Lily Ley sold 4,024 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total value of $285,704.00. Following the transaction, the vice president now directly owns 24,319 shares in the company, valued at $1,726,649. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the transaction, the insider now owns 2,985,401 shares in the company, valued at $213,068,069.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,598 shares of company stock worth $7,597,908. Corporate insiders own 2.64% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of PACCAR in the third quarter valued at about $1,144,000. Garde Capital Inc. acquired a new position in shares of PACCAR in the third quarter valued at about $897,000. Belpointe Asset Management LLC acquired a new position in shares of PACCAR in the third quarter valued at about $279,000. IFM Investors Pty Ltd acquired a new position in shares of PACCAR in the third quarter valued at about $722,000. Finally, Yellowstone Partners LLC acquired a new position in shares of PACCAR in the third quarter valued at about $1,869,000. Institutional investors and hedge funds own 62.36% of the company’s stock.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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