Royal Bank of Canada Reaffirms Sector Perform Rating for PACCAR (NASDAQ:PCAR)

PACCAR (NASDAQ:PCAR)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They presently have a $119.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 10.11% from the stock’s previous close.

Several other analysts have also issued reports on PCAR. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI dropped their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.82.

PACCAR Stock Performance

NASDAQ PCAR opened at $108.07 on Monday. The company has a 50-day simple moving average of $100.78 and a two-hundred day simple moving average of $102.56. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. PACCAR has a 12-month low of $85.14 and a 12-month high of $125.50. The firm has a market cap of $56.66 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.61 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) 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 business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. On average, equities analysts forecast that PACCAR will post 8 EPS for the current year.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock valued at $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently made changes to their positions in PCAR. Dimensional Fund Advisors LP increased its position in shares of PACCAR by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after acquiring an additional 171,317 shares in the last quarter. Legal & General Group Plc increased its position in shares of PACCAR by 5.9% during the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after acquiring an additional 242,435 shares in the last quarter. Capital International Investors increased its position in shares of 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 acquiring an additional 1,225,468 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Finally, TD Asset Management Inc increased 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 acquiring an additional 504,346 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

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.