PACCAR (NASDAQ:PCAR) Upgraded by BNP Paribas to “Hold”

by · The Cerbat Gem

PACCAR (NASDAQ:PCAR – Get Free Report) was upgraded by analysts at BNP Paribas to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

A number of other brokerages also recently issued reports on PCAR. JPMorgan Chase & Co. boosted their price target on PACCAR from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Citigroup increased their price target on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI lowered their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, Truist Financial cut their price target on PACCAR from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average price target of $114.00.

Check Out Our Latest Stock Analysis on PCAR

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $107.56 on Wednesday. PACCAR has a 52 week low of $80.94 and a 52 week high of $125.50. The business’s 50 day moving average price is $97.84 and its 200 day moving average price is $103.94. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The firm has a market cap of $56.38 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. On average, sell-side analysts expect that PACCAR will post 8.08 earnings per share for the current year.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACCAR

Several hedge funds and other institutional investors have recently modified their holdings of PCAR. Net Worth Advisory Group acquired a new stake in PACCAR in the 3rd quarter valued at about $1,531,000. Stratos Wealth Advisors LLC boosted its stake in PACCAR by 3.8% during the third quarter. Stratos Wealth Advisors LLC now owns 4,245 shares of the company’s stock worth $419,000 after buying an additional 155 shares during the last quarter. Inspire Advisors LLC grew its holdings in PACCAR by 18.8% in the 3rd quarter. Inspire Advisors LLC now owns 5,516 shares of the company’s stock valued at $544,000 after buying an additional 874 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of PACCAR by 72.2% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 5,128 shares of the company’s stock worth $506,000 after acquiring an additional 2,150 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of PACCAR by 66.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,350 shares of the company’s stock valued at $331,000 after acquiring an additional 1,343 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Company Profile

(Get Free Report)

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.

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