PACCAR (NASDAQ:PCAR) Price Target Cut to $105.00 by Analysts at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR - Get Free Report) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $121.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 18.22% from the stock's current price.

Several other brokerages also recently issued reports on PCAR. Citigroup lowered their price target on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Truist Financial reduced their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, 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 report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and a consensus target price of $112.13.

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PACCAR Trading Down 0.8 %

NASDAQ PCAR traded down $0.73 during trading on Friday, reaching $88.82. 2,517,715 shares of the stock traded hands, compared to its average volume of 2,743,809. The firm has a market cap of $46.62 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR has a fifty-two week low of $85.10 and a fifty-two week high of $121.75. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $100.57 and its 200 day moving average price is $106.15.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Analysts predict that PACCAR will post 7.57 EPS for the current year.

Insider Buying and Selling at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PCAR. Simon Quick Advisors LLC lifted its stake in shares of PACCAR by 24.9% in the first quarter. Simon Quick Advisors LLC now owns 4,677 shares of the company's stock worth $455,000 after buying an additional 932 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in PACCAR by 208.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 192,344 shares of the company's stock valued at $18,729,000 after purchasing an additional 130,068 shares during the last quarter. SG Americas Securities LLC purchased a new position in PACCAR during the 1st quarter valued at about $1,469,000. First National Bank of Mount Dora Trust Investment Services increased its stake in PACCAR by 69.1% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 36,557 shares of the company's stock worth $3,560,000 after buying an additional 14,936 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in PACCAR by 11.1% in the first quarter. GAMMA Investing LLC now owns 9,028 shares of the company's stock valued at $879,000 after purchasing an additional 901 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

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.