PACCAR (NASDAQ:PCAR) Price Target Increased to $121.00 by Analysts at The Goldman Sachs Group

PACCAR (NASDAQ:PCAR) had its target price boosted by analysts at The Goldman Sachs Group from $106.00 to $121.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 2.58% from the company’s previous close.

PCAR has been the topic of a number of other reports. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Truist Financial started coverage on PACCAR in a report on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. Evercore ISI upped their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, TD Cowen upped their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.82.

PACCAR Trading Down 0.1 %

NASDAQ:PCAR traded down $0.06 on Tuesday, reaching $117.96. The company’s stock had a trading volume of 164,746 shares, compared to its average volume of 2,255,336. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The firm has a market cap of $61.81 billion, a PE ratio of 13.45, a PEG ratio of 1.79 and a beta of 0.92. The business’s 50-day moving average price is $115.22 and its two-hundred day moving average price is $100.23.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. Equities research analysts anticipate that PACCAR will post 8.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $102.27, for a total transaction of $511,350.00. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 over the last 90 days. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Large investors have recently modified their holdings of the business. OFI Invest Asset Management bought a new position in shares of PACCAR in the 3rd quarter valued at $26,000. AdvisorNet Financial Inc lifted its stake in shares of PACCAR by 188.5% in the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of PACCAR by 61.9% in the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the last quarter. Riverview Trust Co bought a new position in shares of PACCAR in the 1st quarter valued at $29,000. Finally, Arlington Trust Co LLC bought a new position in shares of PACCAR in the 3rd quarter valued at $30,000. Institutional investors and hedge funds 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.