PACCAR (NASDAQ:PCAR) had its target price decreased by equities research analysts at Credit Suisse Group from $75.00 to $74.00 in a report issued on Wednesday. The firm presently has a “neutral” rating on the stock. Credit Suisse Group’s price target suggests a potential downside of 0.88% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $82.00 target price on shares of PACCAR in a report on Thursday, January 11th. Buckingham Research boosted their price objective on PACCAR from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Wells Fargo & Co reduced their price objective on PACCAR from $77.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 25th. Finally, ValuEngine cut PACCAR from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $76.37.
Shares of PACCAR (PCAR) traded down $1.08 during mid-day trading on Wednesday, hitting $74.66. The stock had a trading volume of 661,167 shares, compared to its average volume of 2,389,042. PACCAR has a 1 year low of $61.93 and a 1 year high of $79.69. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $27,777.21, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22.
In related news, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 2,985,401 shares in the company, valued at $213,068,069.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction that occurred 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. 2.64% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Fulcrum Capital LLC purchased a new stake in PACCAR during the fourth quarter worth $52,026,000. PGGM Investments lifted its holdings in PACCAR by 20.5% during the fourth quarter. PGGM Investments now owns 362,700 shares of the company’s stock worth $25,781,000 after buying an additional 61,793 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in PACCAR during the fourth quarter worth $3,089,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in PACCAR by 50.2% during the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 99,542 shares of the company’s stock worth $7,153,000 after buying an additional 33,269 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in PACCAR by 117.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 7,826 shares of the company’s stock worth $556,000 after buying an additional 4,220 shares during the period. Institutional investors own 62.16% of the company’s stock.
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PACCAR Company Profile
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.
