PACCAR (NASDAQ:PCAR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

PACCAR (NASDAQ:PCAR) had its target price boosted by equities researchers at Wells Fargo & Company from $125.00 to $157.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 18.47% from the stock’s current price.

PCAR has been the topic of a number of other reports. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup restated a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Truist Financial lifted their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Finally, Morgan Stanley set a $119.00 price objective on shares of PACCAR in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $130.20.

PACCAR Stock Performance

PCAR traded down $1.34 during midday trading on Thursday, reaching $132.53. The company’s stock had a trading volume of 636,584 shares, compared to its average volume of 3,151,533. The company has a fifty day simple moving average of $120.46 and a 200 day simple moving average of $120.68. The stock has a market cap of $69.75 billion, a P/E ratio of 27.93, a PEG ratio of 1.27 and a beta of 0.97. The company has a current ratio of 1.82, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR has a twelve month low of $92.25 and a twelve month high of $139.24.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.37 earnings per share. Research analysts expect that PACCAR will post 5.66 earnings per share for the current year.

Institutional Investors Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Deseret Mutual Benefit Administrators raised its stake in shares of PACCAR by 9.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after purchasing an additional 80 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in PACCAR by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after acquiring an additional 81 shares during the period. CYBER HORNET ETFs LLC lifted its stake in shares of PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after buying an additional 87 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of PACCAR by 3.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after buying an additional 87 shares during the last quarter. Finally, Jackson Square Capital LLC boosted its holdings in shares of PACCAR by 3.5% in the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after purchasing an additional 90 shares in 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.