PACCAR (NASDAQ:PCAR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

PACCAR (NASDAQ:PCARGet Free Report) had its target price boosted by JPMorgan Chase & Co. from $122.00 to $125.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 15.57% from the stock’s current price.

Several other brokerages also recently weighed in on PCAR. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley dropped their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the company 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 issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $118.75.

Get Our Latest Stock Analysis on PCAR

PACCAR Stock Up 1.5 %

Shares of NASDAQ:PCAR traded up $1.58 during trading on Monday, reaching $108.16. The stock had a trading volume of 893,829 shares, compared to its average volume of 2,094,314. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $56.71 billion, a P/E ratio of 12.08, a PEG ratio of 1.77 and a beta of 0.93. The firm’s 50-day simple moving average is $111.26 and its 200 day simple moving average is $103.81. PACCAR has a one year low of $90.04 and a one year high of $125.50.

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

Insiders Place Their Bets

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This represents a 15.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

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

About PACCAR

(Get Free Report)

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.

Read More

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.