PACCAR (NASDAQ:PCAR – Get Free Report) was upgraded by analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a $120.00 price target on the stock, down from their prior price target of $132.00. Freedom Broker‘s price target suggests a potential upside of 17.75% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Royal Bank Of Canada upgraded PACCAR from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $150.00 in a research report on Thursday, September 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. BNP Paribas Exane lowered their price objective on PACCAR from $136.00 to $107.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Morgan Stanley set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $142.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $131.96.
Check Out Our Latest Stock Analysis on PCAR
PACCAR Stock Performance
Shares of NASDAQ:PCAR opened at $101.91 on Friday. The stock has a market capitalization of $53.66 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.98 and a current ratio of 3.22. The stock’s 50-day simple moving average is $114.82 and its two-hundred day simple moving average is $120.15. PACCAR has a 52-week low of $93.86 and a 52-week high of $139.24.
PACCAR (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $1.61 EPS for the quarter, meeting the consensus estimate of $1.61. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $7.48 billion. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 EPS. Analysts expect that PACCAR will post 5.84 EPS for the current year.
Institutional Investors Weigh In On PACCAR
Several institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of PACCAR by 2.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,141 shares of the company’s stock worth $377,000 after acquiring an additional 89 shares during the last quarter. CX Institutional increased its holdings in PACCAR by 2.0% in the 3rd quarter. CX Institutional now owns 4,780 shares of the company’s stock valued at $525,000 after acquiring an additional 96 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in PACCAR by 1.0% in the 1st quarter. Bleakley Financial Group LLC now owns 10,835 shares of the company’s stock worth $1,252,000 after purchasing an additional 103 shares in the last quarter. Signaturefd LLC lifted its stake in PACCAR by 1.4% in the 3rd quarter. Signaturefd LLC now owns 8,034 shares of the company’s stock worth $882,000 after purchasing an additional 110 shares in the last quarter. Finally, Avalon Trust Co boosted its holdings in shares of PACCAR by 13.7% during the 1st quarter. Avalon Trust Co now owns 995 shares of the company’s stock valued at $115,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.
PACCAR Company Profile
PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.
The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.
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