PACCAR (NASDAQ:PCAR) Stock Price Expected to Rise, Truist Financial Analyst Says

PACCAR (NASDAQ:PCAR) had its target price increased by analysts at Truist Financial from $112.00 to $113.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 0.44% from the company’s previous close.

PCAR has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Citigroup cut their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.32.

PACCAR Trading Up 1.5 %

Shares of PACCAR stock opened at $112.51 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The stock’s 50 day simple moving average is $110.47 and its 200-day simple moving average is $104.49. The stock has a market cap of $58.99 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 13.51% and a return on equity of 27.24%. Analysts predict that PACCAR will post 7.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new stake in shares of PACCAR in the fourth quarter valued at $1,984,000. Sanctuary Advisors LLC lifted its stake in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares in the last quarter. Mengis Capital Management Inc. grew its stake in PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock valued at $18,863,000 after acquiring an additional 5,433 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of PACCAR by 1.8% in the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after purchasing an additional 89,245 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

About PACCAR

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.