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.

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

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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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