PACCAR (NASDAQ:PCAR) PT Raised to $121.00

PACCAR (NASDAQ:PCAR) had its price target lifted by equities researchers at The Goldman Sachs Group from $106.00 to $121.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 4.37% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Truist Financial assumed coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI upped their price target 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 upped their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Finally, Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Down 1.4 %

Shares of NASDAQ:PCAR opened at $115.93 on Tuesday. PACCAR has a 52 week low of $68.40 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a market capitalization of $60.75 billion, a PE ratio of 13.22, a PEG ratio of 1.79 and a beta of 0.92. The company has a 50 day moving average price of $115.70 and a two-hundred day moving average price of $100.57.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts forecast that PACCAR will post 8.16 earnings per share for the current year.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of 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. Insiders sold a total of 153,496 shares of company stock worth $15,834,812 over the last quarter. 2.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACCAR

Large investors have recently modified their holdings of the stock. Riverview Trust Co bought a new position in shares of PACCAR in the first quarter valued at about $29,000. Rise Advisors LLC bought a new position in PACCAR during the first quarter worth about $31,000. AdvisorNet Financial Inc increased its position in PACCAR by 188.5% during the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. OFI Invest Asset Management bought a new position in PACCAR during the third quarter worth about $26,000. Finally, ST Germain D J Co. Inc. increased its position in PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares during the period. 64.90% of the stock is owned by institutional investors.

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.