Evercore ISI Cuts PACCAR (NASDAQ:PCAR) Price Target to $127.00

PACCAR (NASDAQ:PCAR) had its price target cut by analysts at Evercore ISI from $129.00 to $127.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 19.29% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Citigroup lowered their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Finally, Truist Financial boosted their price objective 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

PACCAR Stock Performance

Shares of PCAR opened at $106.46 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The stock has a market capitalization of $55.82 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.77 and a beta of 0.92. The company’s fifty day moving average is $107.67 and its two-hundred day moving average is $105.07. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50.

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

Insider Buying and Selling at PACCAR

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of PACCAR by 2.6% during the 3rd quarter. Creative Planning now owns 74,672 shares of the company’s stock worth $7,369,000 after acquiring an additional 1,920 shares during the period. Stratos Wealth Advisors LLC lifted its holdings in shares of PACCAR by 3.8% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,245 shares of the company’s stock worth $419,000 after acquiring an additional 155 shares during the period. Blue Trust Inc. lifted its holdings in shares of PACCAR by 172.6% during the 3rd quarter. Blue Trust Inc. now owns 3,816 shares of the company’s stock worth $393,000 after acquiring an additional 2,416 shares during the period. Raymond James & Associates lifted its holdings in shares of PACCAR by 15.2% during the 3rd quarter. Raymond James & Associates now owns 195,504 shares of the company’s stock worth $19,292,000 after acquiring an additional 25,867 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of PACCAR by 5.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,297 shares of the company’s stock worth $325,000 after acquiring an additional 185 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Company Profile

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.