PACCAR (NASDAQ:PCAR) Stock Price Expected to Rise, Truist Financial Analyst Says

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

A number of other equities research analysts have also issued reports on PCAR. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. Citigroup lowered their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $121.32.

PACCAR Stock Performance

Shares of PCAR stock opened at $107.25 on Wednesday. The company has a market capitalization of $56.23 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.93. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $110.45 and its 200-day simple moving average is $104.45.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. On average, sell-side analysts predict that PACCAR will post 7.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.02% of the stock is owned by insiders.

Institutional Investors Weigh In On PACCAR

Several hedge funds have recently made changes to their positions in PCAR. Wingate Wealth Advisors Inc. bought a new position in PACCAR in the fourth quarter worth $64,000. Savant Capital LLC raised its stake in shares of PACCAR by 11.9% in the 4th quarter. Savant Capital LLC now owns 12,539 shares of the company’s stock valued at $1,304,000 after buying an additional 1,334 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of PACCAR by 29.3% during the 4th quarter. Empirical Finance LLC now owns 23,266 shares of the company’s stock worth $2,420,000 after acquiring an additional 5,270 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of PACCAR by 8.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 4,030 shares of the company’s stock valued at $419,000 after acquiring an additional 308 shares in the last quarter. Finally, Vest Financial LLC increased its stake in PACCAR by 13.1% in the fourth quarter. Vest Financial LLC now owns 308,356 shares of the company’s stock valued at $32,075,000 after acquiring an additional 35,635 shares during the period. 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.