PACCAR (NASDAQ:PCAR) Stock Price Expected to Rise, Truist Financial Analyst Says

PACCAR (NASDAQ:PCAR) had its price target hoisted by analysts at Truist Financial from $107.00 to $110.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 1.96% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Citigroup boosted their price target on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. lowered their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $118.50.

PACCAR Stock Up 0.1 %

Shares of PCAR stock traded up $0.11 during trading hours on Thursday, hitting $107.89. 155,711 shares of the company’s stock traded hands, compared to its average volume of 2,566,680. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $111.39 and its two-hundred day simple moving average is $103.98. PACCAR has a 12-month low of $90.04 and a 12-month high of $125.50. The stock has a market cap of $56.57 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. On average, analysts expect that PACCAR will post 7.98 EPS for the current year.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in PACCAR by 4.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 105,010 shares of the company’s stock worth $10,810,000 after purchasing an additional 4,158 shares in the last quarter. GYL Financial Synergies LLC raised its position in shares of PACCAR by 29.9% during the second quarter. GYL Financial Synergies LLC now owns 2,353 shares of the company’s stock valued at $242,000 after buying an additional 541 shares during the last quarter. &PARTNERS lifted its holdings in shares of PACCAR by 190.0% in the second quarter. &PARTNERS now owns 9,887 shares of the company’s stock worth $1,017,000 after buying an additional 6,478 shares in the last quarter. Secure Asset Management LLC bought a new position in shares of PACCAR during the second quarter worth $325,000. Finally, Catalina Capital Group LLC grew its stake in PACCAR by 26.9% during the second quarter. Catalina Capital Group LLC now owns 2,316 shares of the company’s stock valued at $238,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors 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.