Melius Upgrades PACCAR (NASDAQ:PCAR) to "Buy"

PACCAR (NASDAQ:PCAR - Get Free Report) was upgraded by Melius from a "hold" rating to a "buy" rating in a research report issued on Tuesday, MarketBeat.com reports.

A number of other equities analysts have also weighed in on PCAR. Evercore ISI cut their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Citigroup cut their price objective on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $118.23.

PACCAR Price Performance

PCAR traded down $1.21 during midday trading on Tuesday, reaching $97.11. 8,554,751 shares of the company's stock were exchanged, compared to its average volume of 2,530,202. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a market capitalization of $50.96 billion, a PE ratio of 12.28, a P/E/G ratio of 2.77 and a beta of 0.91. The business's 50-day moving average price is $106.29 and its 200 day moving average price is $106.40. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50.

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

Insiders Place Their Bets

In other PACCAR 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 transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction 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 $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. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Chancellor Financial Group WB LP purchased a new position in shares of PACCAR in the fourth quarter valued at $210,000. 111 Capital purchased a new position in shares of PACCAR in the fourth quarter valued at $421,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of PACCAR in the fourth quarter valued at $42,432,000. LM Advisors LLC purchased a new position in shares of PACCAR in the fourth quarter valued at $1,022,000. Finally, Garde Capital Inc. purchased a new position in shares of PACCAR in the fourth quarter valued at $135,000. 64.90% of the stock is currently owned by hedge funds and other 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.