PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by StockNews.com

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

Several other equities research analysts also recently issued reports on PCAR. Royal Bank of Canada reduced their price objective on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research note on Thursday. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup lowered their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Truist Financial dropped their target price on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $105.23.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $90.61 on Friday. The stock’s fifty day simple moving average is $94.45 and its 200 day simple moving average is $104.21. The stock has a market capitalization of $47.57 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the prior year, the business posted $2.27 EPS. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the acquisition, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently bought and sold shares of the business. Madrona Financial Services LLC increased its stake in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after acquiring an additional 91 shares during the period. Global Financial Private Client LLC lifted its position in shares of PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after buying an additional 97 shares during the period. PDS Planning Inc grew its position in PACCAR by 3.7% in the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after acquiring an additional 101 shares during the period. Valley National Advisers Inc. raised its stake in PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after acquiring an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock valued at $88,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Company Profile

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.