PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by Melius

PACCAR (NASDAQ:PCAR) was upgraded by research analysts at Melius from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat.com reports.

Several other brokerages also recently issued reports on PCAR. Citigroup cut their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.23.

PACCAR Price Performance

NASDAQ:PCAR opened at $99.59 on Tuesday. The company has a 50-day moving average of $106.68 and a 200-day moving average of $106.45. 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. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts anticipate that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Madrona Financial Services LLC grew its holdings in shares of PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares during the last quarter. Global Financial Private Client LLC grew its holdings in shares of PACCAR by 1.0% during the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc grew its holdings in shares of PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after purchasing an additional 101 shares during the last quarter. Insight Wealth Partners LLC grew its holdings in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after purchasing an additional 104 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after purchasing an additional 106 shares during the last quarter. 64.90% of the stock is owned by 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.