PACCAR (NASDAQ:PCAR) Upgraded at Evercore ISI

PACCAR (NASDAQ:PCAR) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage presently has a $129.00 price target on the stock, up from their previous price target of $99.00. Evercore ISI’s target price would indicate a potential upside of 10.45% from the stock’s previous close.

Several other research firms have also recently weighed in on PCAR. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Truist Financial increased their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $116.55.

PACCAR Stock Up 0.3 %

Shares of NASDAQ:PCAR opened at $116.79 on Wednesday. PACCAR has a 52 week low of $87.58 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The company has a market capitalization of $61.23 billion, a PE ratio of 13.05, a PEG ratio of 1.82 and a beta of 0.89. The company has a 50 day moving average price of $102.34 and a two-hundred day moving average price of $102.61.

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

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 0.00 % 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 firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of PACCAR in the 2nd quarter valued at $26,000. New Covenant Trust Company N.A. bought a new stake in PACCAR during the 1st quarter valued at $27,000. Meeder Asset Management Inc. increased its stake in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in PACCAR during the 2nd quarter valued at $36,000. Finally, Fortitude Family Office LLC increased its stake in PACCAR by 200.0% during the 2nd quarter. Fortitude Family Office LLC now owns 366 shares of the company’s stock valued at $38,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

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.