PACCAR (NASDAQ:PCAR) Given New $113.00 Price Target at Truist Financial

PACCAR (NASDAQ:PCAR) had its target price lifted by Truist Financial from $112.00 to $113.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 5.36% from the stock’s current price.

A number of other equities research analysts also recently issued reports on PCAR. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Evercore ISI raised shares of 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $121.32.

PACCAR Stock Down 2.4 %

Shares of NASDAQ:PCAR opened at $107.25 on Wednesday. The company has a market capitalization of $56.23 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.93. The stock’s fifty day simple moving average is $110.45 and its 200-day simple moving average is $104.45. PACCAR has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. As a group, equities research analysts forecast that PACCAR will post 7.93 earnings per share for the current fiscal year.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in PACCAR in the 2nd quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new stake in PACCAR during the fourth quarter valued at approximately $37,000. Grove Bank & Trust lifted its stake in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. bought a new stake in PACCAR during the third quarter worth approximately $50,000. Finally, Ashton Thomas Securities LLC acquired a new position in PACCAR in the third quarter worth approximately $52,000. 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.