PACCAR (NASDAQ:PCAR) was downgraded by research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Monday, Marketbeat Ratings reports. They currently have a $73.00 target price on the stock. J P Morgan Chase & Co’s price target would suggest a potential upside of 1.76% from the company’s previous close.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, September 5th. Buckingham Research started coverage on PACCAR in a report on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price objective on the stock. ValuEngine upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Royal Bank of Canada reiterated a “buy” rating on shares of PACCAR in a report on Friday, September 1st. Finally, Deutsche Bank reiterated a “hold” rating and issued a $78.00 price objective (up previously from $75.00) on shares of PACCAR in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $75.15.
PACCAR (PCAR) traded down $0.23 during trading hours on Monday, reaching $71.74. The company’s stock had a trading volume of 1,853,886 shares, compared to its average volume of 1,922,477. PACCAR has a 12 month low of $61.93 and a 12 month high of $75.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40. The stock has a market capitalization of $25,310.00, a P/E ratio of 18.45, a P/E/G ratio of 1.72 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 dated Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total transaction of $285,704.00. Following the sale, the vice president now owns 24,319 shares in the company, valued at approximately $1,726,649. The sale was disclosed in a document filed 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 stock was sold at an average price of $71.37, for a total value of $7,062,489.72. Following the sale, the insider now owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,598 shares of company stock worth $7,597,908. 2.64% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Koch Industries Inc. acquired a new position in shares of PACCAR during the 2nd quarter worth about $213,000. Principal Financial Group Inc. boosted its position in shares of PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after acquiring an additional 2,038,761 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in shares of PACCAR during the 2nd quarter worth about $3,038,000. BlueMountain Capital Management LLC acquired a new position in shares of PACCAR during the 2nd quarter worth about $2,771,000. Finally, Brighton Jones LLC acquired a new position in shares of PACCAR during the 2nd quarter worth about $3,338,000. 62.36% of the stock is owned by institutional investors and hedge funds.
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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