PACCAR (NASDAQ:PCAR) Price Target Raised to $132.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price objective increased by research analysts at JPMorgan Chase & Co. from $125.00 to $132.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.05% from the company’s previous close.

A number of other research analysts also recently issued reports on PCAR. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average price target of $121.95.

PACCAR Price Performance

Shares of PCAR opened at $110.88 on Monday. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The stock has a market cap of $58.13 billion, a PE ratio of 14.02, a P/E/G ratio of 2.87 and a beta of 0.92. The firm has a 50-day simple moving average of $110.36 and a two-hundred day simple moving average of $104.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 forecast that PACCAR will post 7.6 EPS for the current year.

Insider Buying and Selling at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value 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. The trade was a 62.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,871 shares of company stock valued at $14,586,333. 2.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently made changes to their positions in PCAR. Quarry LP acquired a new position in shares of PACCAR during the 2nd quarter worth $26,000. Sanctuary Advisors LLC purchased a new stake in shares of PACCAR in the 2nd quarter worth about $2,703,000. Czech National Bank boosted its position in shares of PACCAR by 6.9% in the 3rd quarter. Czech National Bank now owns 106,789 shares of the company’s stock worth $10,538,000 after buying an additional 6,909 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of PACCAR by 32.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,069 shares of the company’s stock worth $698,000 after buying an additional 1,747 shares in the last quarter. Finally, Fulton Bank N.A. boosted its position in shares of PACCAR by 8.1% in the 3rd quarter. Fulton Bank N.A. now owns 3,899 shares of the company’s stock worth $385,000 after buying an additional 292 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

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.