PACCAR (NASDAQ:PCAR) Given New $127.00 Price Target at Evercore ISI

PACCAR (NASDAQ:PCAR) had its target price lowered by investment analysts at Evercore ISI from $129.00 to $127.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 19.31% from the company’s current price.

A number of other equities analysts also recently issued reports on PCAR. Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Finally, Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

PACCAR Trading Down 0.1 %

Shares of NASDAQ:PCAR traded down $0.09 during midday trading on Wednesday, hitting $106.45. 323,993 shares of the stock traded hands, compared to its average volume of 2,253,646. The stock has a market capitalization of $55.81 billion, a PE ratio of 13.47, a P/E/G ratio of 2.75 and a beta of 0.92. The business’s 50 day moving average is $107.97 and its two-hundred day moving average is $105.04. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. PACCAR has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts forecast that PACCAR will post 7.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,547 shares of company stock worth $17,625,128. Company insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Geode Capital Management LLC raised its position in shares of PACCAR by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the period. FMR LLC raised its position in shares of PACCAR by 1.9% during the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Northern Trust Corp raised its position in shares of PACCAR by 8.5% during the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock valued at $749,189,000 after purchasing an additional 565,967 shares during the period. 64.90% of the stock is currently owned by institutional investors.

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.