PACCAR (NASDAQ:PCAR) Price Target Raised to $113.00 at Truist Financial

PACCAR (NASDAQ:PCAR) had its price objective upped by equities researchers at Truist Financial from $112.00 to $113.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 0.44% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Morgan Stanley lowered their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.32.

PACCAR Trading Up 1.5 %

PACCAR stock opened at $112.51 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm has a 50-day moving average of $110.47 and a 200-day moving average of $104.49. The company has a market cap of $58.99 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 2.77 and a beta of 0.93. 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 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 net margin of 13.51% and a return on equity of 27.24%. On average, equities analysts expect that PACCAR will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PACCAR

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of PACCAR during the 3rd quarter valued at about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after buying an additional 576,532 shares during the last quarter. 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.