PACCAR (NASDAQ:PCAR) Rating Reiterated by Truist Financial

PACCAR (NASDAQ:PCAR)‘s stock had its “hold” rating restated by equities research analysts at Truist Financial in a report issued on Thursday, Benzinga reports. They currently have a $121.00 target price on the stock, up from their prior target price of $117.00. Truist Financial’s price target would suggest a potential upside of 15.47% from the stock’s current price.

Several other brokerages have also commented on PCAR. Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. The Goldman Sachs Group raised their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Evercore ISI boosted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. TD Cowen raised their target price on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Finally, UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average target price of $112.62.

PACCAR Stock Down 1.6 %

PCAR traded down $1.67 during trading on Thursday, hitting $104.79. The stock had a trading volume of 3,899,161 shares, compared to its average volume of 2,813,976. The stock has a 50 day simple moving average of $116.54 and a two-hundred day simple moving average of $102.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 1.69. PACCAR has a twelve month low of $68.40 and a twelve month high of $125.50. The company has a market capitalization of $54.91 billion, a PE ratio of 10.87, a PEG ratio of 1.66 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter last year, the firm earned $2.25 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts predict that PACCAR will post 8.24 earnings per share for the current year.

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SPC Financial Inc. raised its stake in PACCAR by 1.3% in the 1st quarter. SPC Financial Inc. now owns 14,051 shares of the company’s stock valued at $1,741,000 after purchasing an additional 176 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of PACCAR by 16.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,164 shares of the company’s stock worth $144,000 after buying an additional 165 shares in the last quarter. Team Hewins LLC raised its position in shares of PACCAR by 2.6% in the first quarter. Team Hewins LLC now owns 4,707 shares of the company’s stock valued at $583,000 after buying an additional 121 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of PACCAR in the first quarter worth about $275,000. Finally, Catalina Capital Group LLC acquired a new position in PACCAR during the first quarter worth about $226,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

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.