Deutsche Bank Aktiengesellschaft Trims PACCAR (NASDAQ:PCAR) Target Price to $96.00

PACCAR (NASDAQ:PCARGet Rating) had its price target dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $100.00 to $96.00 in a research report issued on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 15.33% from the stock’s current price.

Several other equities analysts also recently commented on PCAR. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and cut their price target for the company from $100.00 to $85.00 in a report on Tuesday, April 5th. Raymond James upped their price target on shares of PACCAR from $105.00 to $108.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 26th. Sanford C. Bernstein upgraded shares of PACCAR from a “market perform” rating to an “outperform” rating and upped their price target for the company from $94.00 to $98.00 in a report on Wednesday, December 22nd. StockNews.com initiated coverage on shares of PACCAR in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Citigroup downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $99.79.

Shares of NASDAQ PCAR opened at $83.24 on Thursday. The firm’s 50-day moving average price is $89.16 and its 200-day moving average price is $88.54. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $28.94 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.22 and a beta of 0.91. PACCAR has a 12-month low of $77.96 and a 12-month high of $97.56.

PACCAR (NASDAQ:PCARGet Rating) last announced its earnings results on Tuesday, January 25th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.16. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $5.44 billion. PACCAR had a net margin of 7.87% and a return on equity of 16.58%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 EPS. On average, equities analysts predict that PACCAR will post 6.74 EPS for the current fiscal year.

In other news, Director Alison J. Carnwath sold 29,233 shares of the stock in a transaction that occurred on Friday, January 28th. The shares were sold at an average price of $92.13, for a total transaction of $2,693,236.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Harrie Schippers sold 14,327 shares of the stock in a transaction that occurred on Wednesday, February 2nd. The shares were sold at an average price of $95.62, for a total transaction of $1,369,947.74. The disclosure for this sale can be found here. Insiders sold a total of 70,930 shares of company stock worth $6,647,589 over the last 90 days. Insiders own 2.05% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. State Street Corp lifted its position in PACCAR by 0.7% during the fourth quarter. State Street Corp now owns 14,503,113 shares of the company’s stock valued at $1,301,496,000 after acquiring an additional 101,274 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in PACCAR by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,645,446 shares of the company’s stock valued at $674,787,000 after acquiring an additional 43,396 shares during the last quarter. Geode Capital Management LLC lifted its position in PACCAR by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 6,568,605 shares of the company’s stock valued at $578,406,000 after acquiring an additional 176,010 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in PACCAR by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,492,822 shares of the company’s stock valued at $275,739,000 after acquiring an additional 158,111 shares during the last quarter. Finally, Norges Bank purchased a new stake in PACCAR during the fourth quarter valued at approximately $287,028,000. 63.30% of the stock is owned by institutional investors.

PACCAR Company Profile (Get Rating)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

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