PACCAR (NASDAQ:PCAR) Upgraded by Wall Street Zen to “Hold” Rating

PACCAR (NASDAQ:PCAR) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently commented on PCAR. Jefferies Financial Group restated a “hold” rating and issued a $90.00 price target on shares of PACCAR in a research note on Tuesday, October 21st. Wells Fargo & Company started coverage on PACCAR in a report on Thursday, November 13th. They issued a “positive” rating and a $106.00 target price for the company. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. UBS Group set a $103.00 target price on shares of PACCAR and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.04.

PACCAR Price Performance

PCAR stock opened at $111.79 on Friday. The business’s fifty day moving average price is $103.92 and its 200 day moving average price is $99.63. PACCAR has a 12-month low of $84.65 and a 12-month high of $115.43. The company has a market capitalization of $58.71 billion, a PE ratio of 21.88, a P/E/G ratio of 15.25 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter last year, the company earned $1.85 earnings per share. On average, sell-side analysts anticipate that PACCAR will post 7.57 EPS for the current year.

Insider Activity

In other news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. The trade was a 87.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. increased its holdings in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Private Wealth Management Group LLC lifted its position in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares during the period. Wealth Watch Advisors INC purchased a new stake in PACCAR in the 3rd quarter valued at approximately $32,000. Bayforest Capital Ltd increased its position in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Finally, AlphaQuest LLC purchased a new position in shares of PACCAR during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.