JPMorgan Chase & Co. Cuts PACCAR (NASDAQ:PCAR) Price Target to $121.00

PACCAR (NASDAQ:PCAR) had its target price lowered by analysts at JPMorgan Chase & Co. from $132.00 to $121.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.60% from the stock’s current price.

Several other research firms have also recently weighed in on PCAR. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and lowered their price target for the company from $124.00 to $108.00 in a report on Tuesday. Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, 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 report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $118.23.

PACCAR Trading Up 2.0 %

Shares of NASDAQ:PCAR opened at $101.17 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a market cap of $53.09 billion, a P/E ratio of 12.79, a PEG ratio of 2.77 and a beta of 0.91. The stock’s fifty day moving average price is $107.05 and its 200-day moving average price is $106.47.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current year.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in PACCAR in the fourth quarter worth $37,000. Sunbelt Securities Inc. raised its stake in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after purchasing an additional 350 shares in the last quarter. Kestra Investment Management LLC bought a new position in PACCAR during the fourth quarter valued at $37,000. Finally, Atala Financial Inc purchased a new position in shares of PACCAR in the 4th quarter worth $43,000. 64.90% of the stock is owned by institutional investors.

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.