PACCAR (NASDAQ:PCAR) Raised to Hold at Wall Street Zen

PACCAR (NASDAQ:PCARGet Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts also recently issued research reports about the stock. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Morgan Stanley raised their price target on shares of PACCAR from $93.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, UBS Group set a $103.00 price objective on PACCAR and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and an average price target of $115.92.

Read Our Latest Stock Analysis on PCAR

PACCAR Stock Down 0.3%

Shares of PCAR stock opened at $122.91 on Friday. PACCAR has a 12 month low of $84.65 and a 12 month high of $125.36. The company has a quick ratio of 2.91, a current ratio of 1.70 and a debt-to-equity ratio of 0.56. The firm has a market cap of $64.55 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.01. The stock has a 50 day moving average of $113.86 and a 200-day moving average of $103.69.

PACCAR (NASDAQ:PCARGet Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. On average, equities analysts predict that PACCAR will post 7.57 EPS for the current year.

Institutional Investors Weigh In On PACCAR

Institutional investors and hedge funds have recently modified their holdings of the business. JT Stratford LLC bought a new position in PACCAR during the 2nd quarter worth about $1,301,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of PACCAR by 77.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after buying an additional 103,664 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of PACCAR during the third quarter worth about $3,817,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of PACCAR by 77.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 228,946 shares of the company’s stock worth $22,510,000 after buying an additional 100,285 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in PACCAR by 8.3% in the 3rd quarter. Nordea Investment Management AB now owns 108,783 shares of the company’s stock valued at $10,770,000 after buying an additional 8,303 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Key Headlines Impacting PACCAR

Here are the key news stories impacting PACCAR this week:

About PACCAR

(Get Free Report)

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.

Further Reading

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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