Melius Research Upgrades PACCAR (NASDAQ:PCAR) to Strong-Buy

PACCAR (NASDAQ:PCAR) was upgraded by equities research analysts at Melius Research to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Evercore ISI lowered their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of “Moderate Buy” and a consensus price target of $118.23.

PACCAR Trading Down 0.9 %

PACCAR stock opened at $100.21 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business’s 50-day simple moving average is $106.86 and its 200-day simple moving average is $106.50. The firm has a market capitalization of $52.59 billion, a PE ratio of 12.67, a PEG ratio of 2.77 and a beta of 0.91. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts forecast that PACCAR will post 7.57 earnings per share for the current year.

Insider Transactions at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PCAR. Principal Financial Group Inc. boosted its position in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Quest Partners LLC raised its stake in PACCAR by 45,433.3% during the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock worth $270,000 after buying an additional 2,726 shares during the period. Caprock Group LLC raised its stake in PACCAR by 18.4% during the 3rd quarter. Caprock Group LLC now owns 24,728 shares of the company’s stock worth $2,440,000 after buying an additional 3,835 shares during the period. Banque Cantonale Vaudoise raised its stake in PACCAR by 73.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 10,291 shares of the company’s stock worth $1,016,000 after buying an additional 4,372 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in PACCAR during the 3rd quarter worth $2,157,000. 64.90% of the stock is currently owned by institutional investors.

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.