PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by Wall Street Zen

PACCAR (NASDAQ:PCAR) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also recently weighed in on PCAR. Truist Financial raised their target price on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $90.00 price objective on PACCAR in a research note on Tuesday, October 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of PACCAR in a report on Tuesday, October 21st. Finally, Wells Fargo & Company began coverage on PACCAR in a research report on Thursday, November 13th. They issued a “positive” rating and a $106.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and an average price target of $111.04.

PACCAR Price Performance

Shares of PACCAR stock opened at $111.79 on Friday. PACCAR has a 52 week low of $84.65 and a 52 week high of $115.43. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The stock has a market cap of $58.71 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 15.29 and a beta of 1.01. The company’s 50-day moving average price is $103.92 and its two-hundred day moving average price is $99.71.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter last year, the business posted $1.85 EPS. As a group, sell-side analysts anticipate that PACCAR will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCAR. Connor Clark & Lunn Investment Management Ltd. boosted its stake in PACCAR by 77.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after purchasing an additional 103,664 shares in the last quarter. JT Stratford LLC bought a new stake in PACCAR during the 2nd quarter worth about $1,301,000. Assenagon Asset Management S.A. grew its holdings in PACCAR by 46.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after acquiring an additional 88,551 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in PACCAR by 1,314.8% in the 1st quarter. Coppell Advisory Solutions LLC now owns 13,200 shares of the company’s stock valued at $1,285,000 after acquiring an additional 12,267 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of PACCAR by 23.0% in the second quarter. Nordea Investment Management AB now owns 100,480 shares of the company’s stock worth $9,534,000 after acquiring an additional 18,767 shares during the last quarter. Institutional investors and hedge funds 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.