PACCAR (NASDAQ:PCAR) Price Target Lowered to $122.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price target decreased by research analysts at JPMorgan Chase & Co. from $125.00 to $122.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.37% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Truist Financial reduced their target price on PACCAR from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup increased their price objective on shares of PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. 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 note on Wednesday, July 24th. Finally, Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.18.

PACCAR Stock Performance

NASDAQ:PCAR opened at $104.84 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $54.96 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. The firm has a 50-day moving average price of $98.98 and a two-hundred day moving average price of $103.41. PACCAR has a twelve month low of $80.94 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. PACCAR’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. As a group, research analysts expect that PACCAR will post 8.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $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 accessible through this link. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PCAR. Riverview Trust Co acquired a new position in shares of PACCAR in the 1st quarter valued at about $29,000. Vanguard Capital Wealth Advisors purchased a new stake in PACCAR in the 1st quarter worth approximately $213,000. Hennessy Advisors Inc. acquired a new stake in shares of PACCAR during the 1st quarter valued at $3,605,000. Indiana Trust & Investment Management CO grew its holdings in shares of PACCAR by 337.9% during the 1st quarter. Indiana Trust & Investment Management CO now owns 543 shares of the company’s stock valued at $67,000 after acquiring an additional 419 shares in the last quarter. Finally, OneAscent Wealth Management LLC acquired a new position in shares of PACCAR in the first quarter worth $225,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

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.