PACCAR (NASDAQ:PCAR) Price Target Cut to $103.00 by Analysts at Truist Financial

PACCAR (NASDAQ:PCAR - Get Free Report) had its price target decreased by investment analysts at Truist Financial from $107.00 to $103.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's target price indicates a potential downside of 0.74% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Raymond James initiated coverage on PACCAR in a report on Friday, June 28th. They set a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, July 24th. Citigroup reduced their price objective on shares of PACCAR from $106.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. Finally, StockNews.com upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $113.09.

PACCAR Stock Up 0.9 %

PCAR traded up $0.97 on Wednesday, reaching $103.77. 1,781,172 shares of the company traded hands, compared to its average volume of 2,613,458. PACCAR has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market cap of $54.39 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.52 and a beta of 0.91. The stock's 50 day moving average price is $96.14 and its 200-day moving average price is $104.53.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.14 by ($0.01). The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company's revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. On average, sell-side analysts expect that PACCAR will post 8.08 EPS for the current fiscal year.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.02% of the company's stock.

Institutional Trading of PACCAR

Institutional investors have recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in PACCAR during the first quarter worth $27,000. Riverview Trust Co bought a new stake in PACCAR in the first quarter valued at about $29,000. Rise Advisors LLC bought a new stake in PACCAR in the first quarter valued at about $31,000. Quarry LP acquired a new position in PACCAR in the second quarter worth about $26,000. Finally, Meeder Asset Management Inc. lifted its stake in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock worth $29,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

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.