JPMorgan Chase & Co. Lowers PACCAR (NASDAQ:PCAR) Price Target to $121.00

PACCAR (NASDAQ:PCAR) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $132.00 to $121.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 21.50% from the company’s current price.

PCAR has been the subject of several other research reports. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Finally, Truist Financial raised their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Stock Down 0.6 %

Shares of PCAR opened at $99.59 on Tuesday. The company has a 50-day simple moving average of $106.68 and a 200-day simple moving average of $106.45. The firm has a market capitalization of $52.27 billion, a P/E ratio of 12.59, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts expect that PACCAR will post 7.57 earnings per share for the current year.

Insider Activity

In other PACCAR 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 transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last three months. 2.02% of the stock is owned by insiders.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Chancellor Financial Group WB LP bought a new position in PACCAR in the fourth quarter valued at approximately $210,000. 111 Capital bought a new position in shares of PACCAR during the fourth quarter worth $421,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PACCAR during the fourth quarter worth $42,432,000. LM Advisors LLC bought a new position in shares of PACCAR during the fourth quarter worth $1,022,000. Finally, Garde Capital Inc. bought a new position in shares of PACCAR during the fourth quarter worth $135,000. 64.90% of the stock is owned by institutional investors.

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.