PACCAR (NASDAQ:PCAR) Upgraded at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Friday,Benzinga reports. The firm currently has a $133.00 target price on the stock, up from their prior target price of $108.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 19.28% from the company’s current price.

A number of other brokerages have also recently weighed in on PCAR. Jefferies Financial Group restated a “hold” rating and issued a $90.00 price target on shares of PACCAR in a research report on Tuesday, October 21st. Wells Fargo & Company initiated coverage on shares of PACCAR in a research note on Thursday, November 13th. They issued a “positive” rating and a $106.00 price objective on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $125.00 target price on shares of PACCAR in a report on Friday, December 5th. UBS Group set a $103.00 target price on shares of PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and an average target price of $111.04.

PACCAR Price Performance

PCAR stock opened at $111.50 on Friday. The firm has a 50 day moving average of $101.83 and a 200-day moving average of $98.85. The company has a market cap of $58.56 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 15.27 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. PACCAR has a 12-month low of $84.65 and a 12-month high of $115.43.

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

Insider Activity

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

Institutional Trading of PACCAR

A number of hedge funds have recently bought and sold shares of the company. Private Wealth Management Group LLC raised its holdings in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position 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 purchasing an additional 100 shares during the period. Wealth Watch Advisors INC acquired a new position in PACCAR in the third quarter valued at $32,000. AlphaQuest LLC acquired a new position in PACCAR in the third quarter valued at $38,000. Finally, Bayforest Capital Ltd lifted its position in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Company Profile

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.