PACCAR (NASDAQ:PCAR) Rating Increased to Buy at Melius

PACCAR (NASDAQ:PCAR) was upgraded by research analysts at Melius from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat reports.

PCAR has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target 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 lifted their price target 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. Jefferies Financial Group cut 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. Evercore ISI dropped 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. Finally, Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $119.23.

PACCAR Price Performance

Shares of PCAR stock opened at $101.17 on Tuesday. 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 firm’s 50-day moving average is $107.05 and its two-hundred day moving average is $106.47. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market capitalization of $53.09 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 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%. Analysts predict that PACCAR will post 7.57 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $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 worth $18,261,908 over the last 90 days. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

Institutional investors have recently modified their holdings of the stock. Everence Capital Management Inc. purchased a new stake in shares of PACCAR during the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. lifted its position in shares of PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock worth $8,916,000 after buying an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of PACCAR by 24.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of PACCAR by 21.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares during the last quarter. Hedge funds and other institutional investors 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.