PACCAR (NASDAQ:PCAR) Upgraded to Strong-Buy at Melius Research

PACCAR (NASDAQ:PCAR) was upgraded by equities researchers at Melius Research to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on PCAR. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday. Evercore ISI reduced their price target 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. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Citigroup reduced their price target 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 cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.23.

PACCAR Stock Performance

Shares of PACCAR stock opened at $99.59 on Tuesday. The company has a market capitalization of $52.27 billion, a PE ratio of 12.59, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a 50-day simple moving average of $106.68 and a two-hundred day simple moving average of $106.45. PACCAR has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts expect that PACCAR will post 7.57 EPS for the current fiscal year.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last three months. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several large investors have recently modified their holdings of PCAR. Meeder Asset Management Inc. raised its position in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR in the fourth quarter worth $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the fourth quarter worth $37,000. Sunbelt Securities Inc. raised its position in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in PACCAR in the fourth quarter worth $43,000. 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.