PACCAR (NASDAQ:PCAR) Rating Lowered to “Neutral” at UBS Group

PACCAR (NASDAQ:PCAR) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Marketbeat reports. They presently have a $108.00 target price on the stock, down from their previous target price of $124.00. UBS Group’s target price would indicate a potential upside of 8.44% from the stock’s previous close.

Several other brokerages have also recently issued reports on PCAR. Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Trading Down 0.6 %

PCAR stock opened at $99.59 on Tuesday. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a market capitalization of $52.27 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.77 and a beta of 0.91. The business has a 50 day simple moving average of $106.68 and a two-hundred day simple moving average of $106.45.

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 the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts anticipate that PACCAR will post 7.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCAR. Meeder Asset Management Inc. grew its position in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR during the 4th quarter valued at about $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the 4th quarter valued at about $37,000. Sunbelt Securities Inc. grew its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of PACCAR during the 4th quarter valued at about $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.