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.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. research analysts forecast that PACCAR will post 4.18 EPS for the current year.

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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About PACCAR

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.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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