PACCAR (NASDAQ:PCAR) Price Target Cut to $90.00

PACCAR (NASDAQ:PCAR – Get Rating) had its price target dropped by research analysts at Morgan Stanley from $98.00 to $90.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 7.51% from the company’s current price.

PCAR has been the topic of several other reports. UBS Group lifted their price target on shares of PACCAR from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, January 26th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $114.00 to $108.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. Credit Suisse Group boosted their price objective on shares of PACCAR from $109.00 to $114.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 26th. Wolfe Research boosted their price objective on shares of PACCAR from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 26th. Finally, Bank of America boosted their price objective on shares of PACCAR from $85.00 to $90.00 and gave the stock an “underperform” rating in a research note on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.21.

Shares of PCAR stock opened at $83.71 on Monday. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.62. PACCAR has a 1 year low of $77.96 and a 1 year high of $97.56. The firm’s fifty day moving average price is $88.73 and its two-hundred day moving average price is $88.69. The firm has a market capitalization of $29.10 billion, a P/E ratio of 15.76, a PEG ratio of 1.24 and a beta of 0.91.

PACCAR (NASDAQ:PCAR – Get Rating) last issued its quarterly 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. PACCAR had a net margin of 7.87% and a return on equity of 16.58%. The firm had revenue of $6.30 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business earned $1.17 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR will post 6.74 EPS for the current fiscal year.

In other PACCAR news, CEO R Preston Feight sold 18,750 shares of the business’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $94.62, for a total value of $1,774,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alison J. Carnwath sold 29,233 shares of the business’s stock in a transaction dated Friday, January 28th. The shares were sold at an average price of $92.13, for a total transaction of $2,693,236.29. The disclosure for this sale can be found here. Insiders have sold a total of 70,930 shares of company stock valued at $6,647,589 in the last ninety days. 2.05% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Paragon Capital Management Ltd bought a new stake in PACCAR in the 4th quarter valued at about $26,000. Exchange Traded Concepts LLC bought a new stake in PACCAR in the 4th quarter valued at about $28,000. Trust Co. of Vermont bought a new stake in shares of PACCAR during the 4th quarter worth approximately $30,000. Allworth Financial LP lifted its holdings in shares of PACCAR by 54.3% during the 3rd quarter. Allworth Financial LP now owns 435 shares of the company’s stock worth $34,000 after acquiring an additional 153 shares during the period. Finally, CVA Family Office LLC bought a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. 63.30% of the stock is owned by hedge funds and other 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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