PACCAR (NASDAQ:PCAR) was downgraded by equities researchers at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Monday. They presently have a $73.00 target price on the stock. J P Morgan Chase & Co’s price target indicates a potential upside of 1.52% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PCAR. BidaskClub cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. UBS set a $79.00 price target on shares of PACCAR and gave the stock a “buy” rating in a research note on Thursday, November 30th. Stifel Nicolaus decreased their price target on shares of PACCAR from $76.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, October 25th. Wells Fargo & Company decreased their price target on shares of PACCAR from $77.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, October 25th. Finally, Susquehanna Bancshares assumed coverage on shares of PACCAR in a research note on Wednesday, November 29th. They set a “neutral” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $75.15.

Shares of PACCAR (PCAR) opened at $71.91 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. The company has a market cap of $25,305.39, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. PACCAR has a fifty-two week low of $61.93 and a fifty-two week high of $75.68.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. equities analysts anticipate that PACCAR will post 4.18 earnings per share for the current fiscal year.

In other PACCAR news, VP Alma Lily Ley sold 4,024 shares of PACCAR stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the transaction, the vice president now directly owns 24,319 shares of the company’s stock, valued at $1,726,649. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of PACCAR 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 transaction, the insider now directly owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,598 shares of company stock valued at $7,597,908. Company insiders own 2.64% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new position in PACCAR during the third quarter worth $1,144,000. Garde Capital Inc. bought a new position in PACCAR during the third quarter worth $897,000. Belpointe Asset Management LLC bought a new position in PACCAR during the third quarter worth $279,000. IFM Investors Pty Ltd acquired a new stake in shares of PACCAR during the third quarter worth $722,000. Finally, Yellowstone Partners LLC acquired a new stake in shares of PACCAR during the third quarter worth $1,869,000. 62.36% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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