PACCAR (NASDAQ:PCAR) Raised to Buy at Melius

PACCAR (NASDAQ:PCAR) was upgraded by investment analysts at Melius from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat Ratings reports.

PCAR has been the topic of a number of other research reports. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Trading Down 0.6 %

PCAR opened at $99.59 on Tuesday. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $52.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.77 and a beta of 0.91. The company’s 50 day moving average price is $106.68 and its two-hundred day moving average price is $106.45.

PACCAR (NASDAQ:PCAR) last posted 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 return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts predict that PACCAR will post 7.57 earnings per share for the current year.

Insider Transactions at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Madrona Financial Services LLC raised its stake in shares of PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock worth $837,000 after acquiring an additional 91 shares in the last quarter. Global Financial Private Client LLC raised its stake in shares of PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock worth $1,011,000 after acquiring an additional 97 shares in the last quarter. PDS Planning Inc raised its stake in shares of PACCAR by 3.7% during the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock worth $292,000 after acquiring an additional 101 shares in the last quarter. Insight Wealth Partners LLC raised its stake in shares of PACCAR by 1.4% during the third quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock worth $760,000 after acquiring an additional 104 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of PACCAR by 0.6% in the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after purchasing an additional 106 shares during the last quarter. 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.