PACCAR (NASDAQ:PCAR) Given Sector Perform Rating at Royal Bank of Canada

PACCAR (NASDAQ:PCAR)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They currently have a $119.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 14.64% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Citigroup increased their price objective on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI dropped their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.82.

PACCAR Price Performance

NASDAQ PCAR traded up $0.45 on Monday, hitting $103.80. The company had a trading volume of 877,207 shares, compared to its average volume of 2,621,398. The company has a market capitalization of $54.42 billion, a PE ratio of 11.57, a PEG ratio of 1.63 and a beta of 0.89. The company’s fifty day moving average price is $100.33 and its 200-day moving average price is $102.65. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.55. PACCAR has a 12-month low of $85.14 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating 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 firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, analysts predict that PACCAR will post 8 earnings per share for the current year.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Kevin D. Baney sold 9,894 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now directly owns 7,121 shares in the company, valued at $761,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at $328,353.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors lifted its position in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Renaissance Technologies LLC bought a new stake in PACCAR during the second quarter worth approximately $88,437,000. Dorsey & Whitney Trust CO LLC increased its stake in PACCAR by 3,636.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after acquiring an additional 531,794 shares during the last quarter. TD Asset Management Inc boosted its position in shares of PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after buying an additional 504,346 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of PACCAR during the second quarter valued at approximately $51,277,000. Institutional investors own 64.90% of the company’s stock.

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.