PACCAR (NASDAQ:PCAR) Price Target Lowered to $122.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price objective reduced by analysts at JPMorgan Chase & Co. from $125.00 to $122.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 16.42% from the company’s current price.

PCAR has been the topic of several other research reports. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Morgan Stanley decreased 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. Truist Financial decreased their price target on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Citigroup boosted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $113.82.

PACCAR Stock Down 4.4 %

PCAR opened at $104.79 on Wednesday. The business’s 50-day simple moving average is $98.78 and its 200-day simple moving average is $103.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. PACCAR has a one year low of $80.94 and a one year high of $125.50. The stock has a market capitalization of $54.93 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the prior year, the business earned $2.33 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that PACCAR will post 8.08 EPS for the current year.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Institutional investors have recently made changes to their positions in the stock. Riverview Trust Co purchased a new stake in PACCAR during the 1st quarter worth $29,000. Vanguard Capital Wealth Advisors purchased a new stake in PACCAR during the 1st quarter worth $213,000. Hennessy Advisors Inc. purchased a new stake in PACCAR during the 1st quarter worth $3,605,000. Indiana Trust & Investment Management CO boosted its position in PACCAR by 337.9% during the 1st quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock worth $67,000 after purchasing an additional 419 shares during the period. Finally, OneAscent Wealth Management LLC purchased a new stake in PACCAR during the 1st quarter worth $225,000. 64.90% of the stock is owned by hedge funds and other 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.