PACCAR (NASDAQ:PCAR) Price Target Cut to $121.00 by Analysts at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $132.00 to $121.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 19.60% from the stock’s current price.

A number of other research analysts have also recently commented on PCAR. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Citigroup reduced their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Truist Financial boosted their price objective 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. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $118.23.

PACCAR Stock Performance

NASDAQ:PCAR opened at $101.17 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock’s fifty day moving average is $107.05 and its 200 day moving average is $106.47. The firm has a market capitalization of $53.09 billion, a PE ratio of 12.79, a PEG ratio of 2.77 and a beta of 0.91. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

Insider Transactions at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated 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 directly owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently modified their holdings of PCAR. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PACCAR during the fourth quarter valued at $42,432,000. LM Advisors LLC purchased a new stake in PACCAR during the 4th quarter valued at about $1,022,000. Garde Capital Inc. acquired a new position in shares of PACCAR in the fourth quarter valued at about $135,000. Great Valley Advisor Group Inc. raised its stake in shares of PACCAR by 7.3% in the fourth quarter. Great Valley Advisor Group Inc. now owns 46,060 shares of the company’s stock worth $4,791,000 after purchasing an additional 3,132 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of PACCAR by 6.1% during the fourth quarter. Mackenzie Financial Corp now owns 81,219 shares of the company’s stock worth $8,448,000 after purchasing an additional 4,703 shares during the period. 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.