PACCAR (NASDAQ:PCAR) Downgraded by UBS Group to Neutral

PACCAR (NASDAQ:PCAR) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday,Finviz reports. They presently have a $108.00 target price on the stock, down from their previous target price of $124.00. UBS Group’s price target would suggest a potential upside of 6.75% from the stock’s previous close.

A number of other equities analysts have also commented on PCAR. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial raised their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup dropped their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $119.23.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $101.17 on Tuesday. The stock has a fifty day simple moving average of $107.05 and a two-hundred day simple moving average of $106.47. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a market cap of $53.09 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of PACCAR in the fourth quarter worth about $526,922,000. Wellington Management Group LLP grew its stake in shares of 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. Kovitz Investment Group Partners LLC grew its stake in shares of PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after purchasing an additional 4,219,964 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in shares of PACCAR in the fourth quarter worth about $254,651,000. 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.