JPMorgan Chase & Co. Lowers PACCAR (NASDAQ:PCAR) Price Target to $105.00

PACCAR (NASDAQ:PCAR) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $121.00 to $105.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.93% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $108.00 to $78.00 in a research report on Monday. Finally, Truist Financial dropped their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and an average price target of $112.13.

PACCAR Stock Up 0.3 %

Shares of NASDAQ:PCAR traded up $0.27 during midday trading on Friday, hitting $89.04. The stock had a trading volume of 841,988 shares, compared to its average volume of 2,723,141. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $101.28 and its 200-day simple moving average is $106.21. PACCAR has a 12 month low of $84.96 and a 12 month high of $121.75. The company has a market cap of $46.74 billion, a P/E ratio of 11.26, a PEG ratio of 2.77 and a beta of 0.96.

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%. On average, sell-side analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company’s stock, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last ninety days. Company insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently bought and sold shares of PCAR. Meeder Asset Management Inc. grew its holdings in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC bought a new stake in PACCAR in the fourth quarter worth approximately $37,000. Sunbelt Securities Inc. lifted its stake in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after buying an additional 350 shares during the period. Kestra Investment Management LLC bought a new position in shares of PACCAR during the 4th quarter worth approximately $37,000. Finally, Atala Financial Inc acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $43,000. 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.