PACCAR (NASDAQ:PCAR) Downgraded by Jefferies Financial Group to “Hold”

PACCAR (NASDAQ:PCAR) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Friday,Briefing.com Automated Import reports. They currently have a $120.00 target price on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 2.02% from the company’s previous close.

A number of other brokerages have also recently issued reports on PCAR. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley dropped their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial boosted their target price on PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $117.83.

PACCAR Price Performance

PCAR opened at $117.62 on Friday. The company has a fifty day moving average price of $109.14 and a two-hundred day moving average price of $103.63. The firm has a market capitalization of $61.67 billion, a PE ratio of 13.14, a P/E/G ratio of 1.83 and a beta of 0.91. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 earnings per share. As a group, analysts anticipate that PACCAR will post 7.98 earnings per share for the current year.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 over the last 90 days. 2.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Institutional investors have recently added to or reduced their stakes in the company. Security National Bank lifted its stake in PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company’s stock valued at $240,000 after acquiring an additional 93 shares during the last quarter. Brookstone Capital Management increased its stake in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after purchasing an additional 97 shares during the period. Omnia Family Wealth LLC lifted its stake in PACCAR by 2.5% in the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after purchasing an additional 98 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Company Profile

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.