PACCAR (NASDAQ:PCAR) Upgraded at Melius Research

PACCAR (NASDAQ:PCAR - Get Free Report) was upgraded by investment analysts at Melius Research to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Evercore ISI decreased their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Finally, Citigroup lowered their price objective on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $118.23.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $1.21 during trading on Tuesday, hitting $97.11. The company had a trading volume of 8,554,751 shares, compared to its average volume of 2,530,736. The firm has a market capitalization of $50.96 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a 50 day simple moving average of $106.29 and a 200 day simple moving average of $106.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

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PACCAR (NASDAQ:PCAR - Get Free Report) 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 net margin of 12.36% and a return on equity of 23.53%. As a group, analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Todd R. Hubbard sold 2,000 shares of the company'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 sale, the vice president now owns 5,463 shares of the company's stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several hedge funds have recently made changes to their positions in PCAR. Chancellor Financial Group WB LP acquired a new stake in PACCAR during the 4th quarter worth approximately $210,000. 111 Capital bought a new stake in PACCAR in the fourth quarter valued at approximately $421,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PACCAR during the fourth quarter valued at $42,432,000. LM Advisors LLC purchased a new stake in shares of PACCAR during the fourth quarter worth about $1,022,000. Finally, Garde Capital Inc. bought a new stake in shares of PACCAR during the 4th quarter worth approximately $135,000. Hedge funds and other 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.