JPMorgan Chase & Co. Increases PACCAR (NASDAQ:PCAR) Price Target to $140.00

PACCAR (NASDAQ:PCAR) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $135.00 to $140.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 19.11% from the company’s previous close.

PCAR has been the topic of several other research reports. Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target on the stock. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. TD Cowen lifted their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Truist Financial began coverage on shares of PACCAR in a research report on Thursday, March 14th. They set a “hold” rating and a $117.00 price target on the stock. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.82.

PACCAR Trading Down 0.4 %

PCAR opened at $117.54 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The company’s 50 day simple moving average is $115.48 and its two-hundred day simple moving average is $100.46. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The firm has a market capitalization of $61.59 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same period last year, the company posted $1.76 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Analysts expect that PACCAR will post 8.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Kevin D. Baney sold 7,203 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $103.03, for a total transaction of $742,125.09. Following the completion of the transaction, the senior vice president now owns 6,621 shares in the company, valued at $682,161.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. 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 90 days. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently modified their holdings of PCAR. Raymond James Financial Services Advisors Inc. lifted its position in PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after acquiring an additional 16,360 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of PACCAR in the third quarter valued at about $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of PACCAR by 42.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after buying an additional 166,628 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 shares during the last quarter. Finally, Nilsine Partners LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $1,337,000. 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.