PACCAR (NASDAQ:PCAR) Given New $127.00 Price Target at Evercore ISI

PACCAR (NASDAQ:PCAR) had its target price reduced by stock analysts at Evercore ISI from $129.00 to $127.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 19.31% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Citigroup dropped their price objective 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. Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.77.

PACCAR Price Performance

NASDAQ PCAR traded down $0.09 on Wednesday, reaching $106.45. The company had a trading volume of 323,993 shares, compared to its average volume of 2,253,646. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $55.81 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.75 and a beta of 0.92. The firm’s 50 day moving average price is $107.97 and its 200 day moving average price is $105.04. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50.

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

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,547 shares of company stock worth $17,625,128. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several large investors have recently modified their holdings of PCAR. Creative Planning raised its stake in shares of PACCAR by 2.6% during the 3rd quarter. Creative Planning now owns 74,672 shares of the company’s stock worth $7,369,000 after acquiring an additional 1,920 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of PACCAR by 3.8% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,245 shares of the company’s stock worth $419,000 after acquiring an additional 155 shares in the last quarter. Blue Trust Inc. raised its stake in shares of PACCAR by 172.6% during the 3rd quarter. Blue Trust Inc. now owns 3,816 shares of the company’s stock worth $393,000 after acquiring an additional 2,416 shares in the last quarter. Raymond James & Associates raised its stake in shares of PACCAR by 15.2% during the 3rd quarter. Raymond James & Associates now owns 195,504 shares of the company’s stock worth $19,292,000 after acquiring an additional 25,867 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in shares of PACCAR by 5.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,297 shares of the company’s stock worth $325,000 after acquiring an additional 185 shares in 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.