PACCAR (NASDAQ:PCAR – Get Free Report) had its target price lifted by research analysts at Morgan Stanley from $109.00 to $113.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 10.78% from the company’s current price.
PCAR has been the topic of several other research reports. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Citigroup reiterated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Truist Financial upped their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $124.18.
Check Out Our Latest Research Report on PACCAR
PACCAR Stock Down 0.0%
PACCAR (NASDAQ:PCAR – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Research analysts predict that PACCAR will post 5.62 earnings per share for the current year.
Institutional Trading of PACCAR
Several hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its position in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the period. Focus Partners Wealth boosted its holdings in shares of PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares during the period. Ieq Capital LLC grew its position in shares of PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after acquiring an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of PACCAR in the 2nd quarter worth about $81,000. Institutional investors 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.
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