PACCAR (NASDAQ:PCAR) Lifted to “Buy” at StockNews.com

PACCAR (NASDAQ:PCAR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Raymond James began coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. JPMorgan Chase & Co. decreased their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average price target of $113.92.

PACCAR Price Performance

NASDAQ PCAR traded up $1.06 during mid-day trading on Monday, hitting $101.28. The stock had a trading volume of 2,608,979 shares, compared to its average volume of 2,531,656. PACCAR has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a market cap of $53.09 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.20 and a beta of 0.92. The company has a 50 day simple moving average of $106.46 and a 200 day simple moving average of $107.95. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 earnings per share. Equities analysts forecast that PACCAR will post 8.34 EPS for the current fiscal year.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Walton sold 9,123 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock valued at $4,779,241 over the last three months. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the business. PSI Advisors LLC purchased a new stake in shares of PACCAR during the first quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR during the first quarter worth about $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR during the first quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR during the first quarter worth about $29,000. Finally, Rise Advisors LLC purchased a new stake in shares of PACCAR during the first quarter worth about $31,000. 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.