PACCAR (NASDAQ:PCAR) had its price target raised by equities research analysts at Buckingham Research from $73.00 to $75.00 in a note issued to investors on Wednesday. The firm currently has a “neutral” rating on the stock. Buckingham Research’s price target points to a potential downside of 0.98% from the stock’s current price.
Other analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $82.00 price objective on shares of PACCAR in a report on Thursday, January 11th. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Wells Fargo & Co decreased their price objective on PACCAR from $77.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, October 25th. ValuEngine cut PACCAR from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Citigroup cut PACCAR from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $81.00 to $75.00 in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and a consensus target price of $76.21.
Shares of PACCAR (PCAR) opened at $75.74 on Wednesday. The stock has a market capitalization of $27,777.21, a P/E ratio of 19.42, a PEG ratio of 1.65 and a beta of 1.22. PACCAR has a twelve month low of $61.93 and a twelve month high of $79.69. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75.
In related news, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP C Michael Dozier sold 3,618 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. Corporate insiders own 2.64% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after acquiring an additional 300 shares during the last quarter. Institute for Wealth Management LLC. bought a new position in PACCAR in the 2nd quarter valued at $201,000. Regentatlantic Capital LLC bought a new position in PACCAR in the 4th quarter valued at $202,000. Cetera Investment Advisers bought a new position in PACCAR in the 2nd quarter valued at $204,000. Finally, Hartland & Co. LLC bought a new position in PACCAR in the 3rd quarter valued at $206,000. 62.16% of the stock is currently owned by institutional investors.
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.
