JPMorgan Chase & Co. Boosts PACCAR (NASDAQ:PCAR) Price Target to $142.00

PACCAR (NASDAQ:PCAR) had its target price lifted by JPMorgan Chase & Co. from $133.00 to $142.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 16.47% from the stock’s current price.

PCAR has been the subject of several other research reports. UBS Group set a $103.00 price target on PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Truist Financial increased their price objective on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $125.00 price target on shares of PACCAR in a report on Friday, December 5th. Finally, Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.33.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $121.92 on Wednesday. The business’s 50 day moving average price is $108.48 and its two-hundred day moving average price is $101.82. The company has a market cap of $64.03 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 14.67 and a beta of 1.01. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. PACCAR has a twelve month low of $84.65 and a twelve month high of $122.65.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the business earned $1.85 earnings per share. The business’s quarterly revenue was down 20.7% on a year-over-year basis. On average, analysts predict that PACCAR will post 7.57 EPS for the current year.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Hazlett Burt & Watson Inc. boosted its stake in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares during the period. Fidelis Capital Partners LLC raised its holdings in PACCAR by 2.9% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares in the last quarter. Fulton Bank N.A. raised its holdings in PACCAR by 3.2% in the 4th quarter. Fulton Bank N.A. now owns 3,458 shares of the company’s stock valued at $379,000 after acquiring an additional 107 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of PACCAR by 3.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after acquiring an additional 108 shares during the period. Finally, Intellectus Partners LLC grew its holdings in shares of PACCAR by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after purchasing an additional 109 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.