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

PACCAR (NASDAQ:PCAR) had its target price raised by stock analysts at Truist Financial from $107.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 4.44% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Citigroup increased their target price on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their price target on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average target price of $118.50.

PACCAR Stock Down 2.0 %

Shares of NASDAQ:PCAR opened at $105.32 on Thursday. The stock’s 50-day moving average is $111.44 and its 200 day moving average is $104.00. The company has a market cap of $55.22 billion, a PE ratio of 11.77, a P/E/G ratio of 1.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion during 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 firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 earnings per share. Sell-side analysts anticipate that PACCAR will post 7.98 EPS for the current year.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % 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, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after acquiring an additional 3,296,146 shares during the last quarter. Renaissance Technologies LLC bought a new position in PACCAR in the second quarter valued at about $88,437,000. Erste Asset Management GmbH purchased a new position in PACCAR in the third quarter worth about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after purchasing an additional 576,532 shares during the period. 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.