PACCAR (NASDAQ:PCAR) Price Target Cut to $104.00 by Analysts at Truist Financial

PACCAR (NASDAQ:PCAR) had its price target cut by stock analysts at Truist Financial from $113.00 to $104.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 10.72% from the stock’s current price.

Other analysts have also recently issued reports about the stock. UBS Group cut shares of PACCAR from a “neutral” rating to a “sell” rating and dropped their price target for the company from $108.00 to $78.00 in a research note on Monday. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. Citigroup decreased their price objective on PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Finally, Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $113.46.

PACCAR Stock Performance

NASDAQ:PCAR opened at $93.93 on Tuesday. PACCAR has a 1 year low of $85.10 and a 1 year high of $121.75. 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 business has a fifty day simple moving average of $101.69 and a two-hundred day simple moving average of $106.28. The company has a market capitalization of $49.31 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.77 and a beta of 0.96.

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

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction dated 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 owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its holdings in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the 4th quarter worth about $37,000. Sunbelt Securities Inc. boosted its stake in PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after purchasing an additional 350 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in PACCAR during the 4th quarter valued at about $37,000. Finally, Atala Financial Inc purchased a new stake in PACCAR during the 4th quarter valued at about $43,000. Institutional investors 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.