PACCAR (NASDAQ:PCAR) Upgraded by Vertical Research to Strong-Buy Rating

PACCAR (NASDAQ:PCAR) was upgraded by investment analysts at Vertical Research to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the company. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup lifted their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Truist Financial cut their price objective on shares of PACCAR from $102.00 to $98.00 and set a “hold” rating on the stock in a report on Wednesday. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price for the company. in a report on Wednesday, April 16th. Finally, UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and increased their price target for the company from $81.00 to $100.00 in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

PACCAR Price Performance

PACCAR stock opened at $101.57 on Wednesday. The business’s fifty day moving average is $95.03 and its two-hundred day moving average is $98.35. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73. The firm has a market cap of $53.32 billion, a P/E ratio of 17.39, a P/E/G ratio of 4.03 and a beta of 0.94. PACCAR has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the business posted $2.13 earnings per share. PACCAR’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director directly owned 13,015 shares in the company, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. lifted its position in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after buying an additional 240 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in PACCAR by 221.8% during 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. Alpine Bank Wealth Management bought a new stake in PACCAR during the first quarter worth about $29,000. Finally, Sunbelt Securities Inc. boosted its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

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.