PACCAR’s (PCAR) Hold Rating Reaffirmed at Truist Financial

PACCAR (NASDAQ:PCAR)‘s stock had its “hold” rating restated by stock analysts at Truist Financial in a note issued to investors on Thursday, Benzinga reports. They presently have a $121.00 price target on the stock, up from their previous price target of $117.00. Truist Financial’s target price points to a potential upside of 15.03% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. 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. Evercore ISI increased their price target on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. Finally, The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. 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. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and a consensus price target of $112.62.

PACCAR Stock Performance

Shares of PCAR stock traded down $1.15 during trading hours on Thursday, reaching $105.19. 247,597 shares of the company traded hands, compared to its average volume of 2,404,886. PACCAR has a 12-month low of $68.40 and a 12-month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. The company has a market cap of $55.12 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.59 and a beta of 0.96. The firm has a 50-day moving average price of $116.62 and a 200 day moving average price of $102.36.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 EPS. As a group, sell-side analysts predict that PACCAR will post 8.23 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,117 shares of company stock valued at $6,510,010. 2.02% of the stock is currently owned by corporate insiders.

Institutional Trading of PACCAR

Institutional investors have recently bought and sold shares of the business. PSI Advisors LLC purchased a new stake in PACCAR during the 1st quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR in the 3rd quarter valued at about $26,000. AdvisorNet Financial Inc lifted its holdings 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 purchasing an additional 181 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the 1st quarter valued at about $27,000. Finally, Riverview Trust Co purchased a new stake in shares of PACCAR in the 1st quarter valued at about $29,000. 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.