PACCAR (NASDAQ:PCAR) PT Raised to $125.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $115.00 to $125.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.16% from the stock’s current price.

A number of other research firms have also recently issued reports on PCAR. Raymond James assumed coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. Evercore ISI decreased their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Truist Financial dropped their price target on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday. Citigroup raised their price objective on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $114.00.

PACCAR Stock Up 1.2 %

Shares of NASDAQ PCAR traded up $1.28 during mid-day trading on Friday, reaching $104.90. 517,062 shares of the company traded hands, compared to its average volume of 2,601,750. The company’s fifty day moving average is $96.39 and its two-hundred day moving average is $104.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The stock has a market cap of $54.99 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the business earned $2.33 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts expect that PACCAR will post 8.08 earnings per share for the current year.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is currently owned by insiders.

Institutional Trading of PACCAR

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of PACCAR by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after purchasing an additional 83,444 shares during the last quarter. Legal & General Group Plc increased its stake in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after buying an additional 242,435 shares during the period. Capital International Investors lifted its stake in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares during the period. Finally, Principal Financial Group Inc. increased its position in PACCAR by 1.5% in the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after buying an additional 48,784 shares in the last quarter. 64.90% of the stock is 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.