PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by BNP Paribas

PACCAR (NASDAQ:PCAR) was upgraded by investment analysts at BNP Paribas to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

PCAR has been the subject of a number of other reports. Citigroup lifted their price target on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Evercore ISI decreased their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $114.00.

PACCAR Trading Up 0.5 %

Shares of NASDAQ PCAR opened at $107.56 on Wednesday. PACCAR has a 1 year low of $80.94 and a 1 year high of $125.50. The stock has a market cap of $56.38 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The firm has a 50-day moving average of $97.84 and a 200 day moving average of $103.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the business earned $2.33 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts expect that PACCAR will post 8.08 EPS for the current fiscal year.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Several large investors have recently added to or reduced their stakes in PCAR. Capital International Investors lifted its holdings in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Renaissance Technologies LLC purchased a new position in PACCAR during the second quarter valued at approximately $88,437,000. Dorsey & Whitney Trust CO LLC lifted its holdings in PACCAR by 3,636.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock valued at $67,696,000 after purchasing an additional 531,794 shares in the last quarter. TD Asset Management Inc lifted its holdings in PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after purchasing an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in PACCAR during the second quarter valued at approximately $51,277,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.