PACCAR (NASDAQ:PCAR) Price Target Raised to $155.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price objective lifted by JPMorgan Chase & Co. from $140.00 to $155.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 24.19% from the stock’s current price.

Several other research analysts have also recently issued reports on PCAR. BNP Paribas Exane started coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price on the stock. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Truist Financial upped their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $123.82.

PACCAR Trading Up 0.2%

Shares of NASDAQ:PCAR traded up $0.23 during trading on Monday, reaching $124.81. 561,297 shares of the company were exchanged, compared to its average volume of 3,101,480. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The business’s fifty day simple moving average is $116.38 and its 200-day simple moving average is $119.19. The firm has a market capitalization of $65.68 billion, a PE ratio of 26.54, a P/E/G ratio of 1.16 and a beta of 0.97. PACCAR has a 12-month low of $92.25 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. On average, research analysts anticipate that PACCAR will post 5.58 EPS for the current year.

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in PACCAR during the fourth quarter worth about $27,000. MCF Advisors LLC grew its holdings in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the period. Steph & Co. purchased a new stake in shares of PACCAR in the first quarter valued at approximately $29,000. Elyxium Wealth LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.