PACCAR (NASDAQ:PCAR) Shares Gap Up to $50.53

PACCAR Inc (NASDAQ:PCAR – Get Rating)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $50.53, but opened at $76.19. PACCAR shares last traded at $75.82, with a volume of 156,463 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PCAR shares. Citigroup upped their price objective on shares of PACCAR to $46.67 in a research report on Wednesday, December 14th. BMO Capital Markets upped their price objective on shares of PACCAR from $60.00 to $66.67 and gave the company a “market perform” rating in a research report on Wednesday, February 1st. Wolfe Research cut shares of PACCAR from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, January 10th. Morgan Stanley decreased their price objective on shares of PACCAR to $64.89 and set an “overweight” rating for the company in a research report on Tuesday, February 7th. Finally, Raymond James upped their price objective on shares of PACCAR from $58.00 to $60.00 and gave the company a “strong-buy” rating in a research report on Friday, February 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average target price of $50.44.

PACCAR Trading Down 2.2 %

The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92. The firm’s 50 day moving average is $57.71 and its two-hundred day moving average is $47.48. The company has a quick ratio of 2.29, a current ratio of 2.51 and a debt-to-equity ratio of 0.60.

PACCAR (NASDAQ:PCAR – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.29. The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.16 billion. PACCAR had a net margin of 10.45% and a return on equity of 23.75%. PACCAR’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities analysts anticipate that PACCAR Inc will post 6.11 EPS for the current year.

Insider Buying and Selling

In other PACCAR news, Chairman Mark C. Pigott sold 106,405 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $72.64, for a total value of $7,729,259.20. Following the completion of the transaction, the chairman now owns 4,789,197 shares in the company, valued at approximately $347,887,270.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PACCAR news, EVP C Michael Dozier sold 47,307 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $73.68, for a total value of $3,485,579.76. Following the completion of the transaction, the executive vice president now owns 18,093 shares in the company, valued at approximately $1,333,092.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark C. Pigott sold 106,405 shares of the company’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $72.64, for a total transaction of $7,729,259.20. Following the completion of the transaction, the chairman now owns 4,789,197 shares of the company’s stock, valued at approximately $347,887,270.08. The disclosure for this sale can be found here. Insiders have sold a total of 157,012 shares of company stock worth $11,461,239 over the last quarter. 2.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall & Sullivan Inc. WA bought a new position in shares of PACCAR in the fourth quarter valued at approximately $30,000. James Investment Research Inc. bought a new position in shares of PACCAR in the third quarter valued at approximately $28,000. Motco bought a new position in shares of PACCAR in the fourth quarter valued at approximately $35,000. Tobam bought a new position in shares of PACCAR in the third quarter valued at approximately $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of PACCAR in the fourth quarter valued at approximately $38,000. Institutional investors own 63.92% of the company’s stock.

About PACCAR

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PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.