PACCAR (NASDAQ:PCAR) Price Target Raised to $110.00 at Truist Financial

PACCAR (NASDAQ:PCAR) had its target price raised by stock analysts at Truist Financial from $107.00 to $110.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 4.44% from the company’s previous close.

PCAR has been the topic of several other reports. Citigroup boosted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Morgan Stanley cut their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $118.50.

PACCAR Price Performance

Shares of PACCAR stock opened at $105.32 on Thursday. 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 has a 52 week low of $90.04 and a 52 week high of $125.50. The stock’s 50-day simple moving average is $111.44 and its 200-day simple moving average is $104.00. The company has a market capitalization of $55.22 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. As a group, analysts expect that PACCAR will post 7.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last quarter. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

Institutional investors have recently bought and sold shares of the business. Synovus Financial Corp increased its position in PACCAR by 16.6% during the third quarter. Synovus Financial Corp now owns 8,899 shares of the company’s stock worth $878,000 after buying an additional 1,267 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of PACCAR during the third quarter worth approximately $269,000. World Investment Advisors LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at $419,000. Sanctuary Advisors LLC raised its position in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after purchasing an additional 5,871 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its stake in PACCAR by 16.0% during the 3rd quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock worth $2,769,000 after purchasing an additional 3,878 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.