PACCAR (NASDAQ:PCAR) Downgraded to “Hold” Rating by Jefferies Financial Group

PACCAR (NASDAQ:PCAR) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $120.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 2.02% from the stock’s current price.

Several other analysts also recently issued reports on the company. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Citigroup lifted their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average target price of $117.83.

PACCAR Stock Performance

NASDAQ PCAR opened at $117.62 on Friday. The stock has a market cap of $61.67 billion, a PE ratio of 13.14, a P/E/G ratio of 1.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25. The firm has a 50-day moving average of $109.14 and a 200-day moving average of $103.63. PACCAR has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the business posted $2.34 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR will post 7.98 EPS for the current year.

Insider Activity

In other news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the sale, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,315 shares of company stock worth $6,358,552. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCAR. Csenge Advisory Group raised its position in PACCAR by 9.0% in the second quarter. Csenge Advisory Group now owns 2,416 shares of the company’s stock valued at $249,000 after purchasing an additional 200 shares during the last quarter. OLD National Bancorp IN boosted its position in PACCAR by 125.8% during the 2nd quarter. OLD National Bancorp IN now owns 3,834 shares of the company’s stock worth $395,000 after buying an additional 2,136 shares during the period. Czech National Bank grew its holdings in PACCAR by 8.5% during the 2nd quarter. Czech National Bank now owns 99,880 shares of the company’s stock worth $10,282,000 after acquiring an additional 7,845 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in PACCAR by 8.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,424 shares of the company’s stock worth $661,000 after acquiring an additional 486 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its position in PACCAR by 16.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 25,915 shares of the company’s stock valued at $2,668,000 after acquiring an additional 3,728 shares during the period. 64.90% of the stock is currently owned by 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.