PACCAR (NASDAQ:PCAR) Now Covered by Analysts at BNP Paribas Exane

BNP Paribas Exane started coverage on shares of PACCAR (NASDAQ:PCAR) in a research report report published on Tuesday morning. The firm issued a neutral rating and a $126.00 target price on the stock.

A number of other research analysts have also recently commented on PCAR. Truist Financial upped their price target on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, January 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup upped their price objective on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $117.00.

PACCAR Trading Up 2.7%

Shares of PCAR stock opened at $115.50 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The firm has a market cap of $60.78 billion, a P/E ratio of 25.61, a PEG ratio of 0.94 and a beta of 1.03. The company has a 50 day moving average of $121.77 and a 200-day moving average of $110.57. PACCAR has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the business earned $1.66 earnings per share. PACCAR’s revenue for the quarter was down 15.1% on a year-over-year basis. Sell-side analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 2,200 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the sale, the chief financial officer directly owned 903 shares in the company, valued at $117,760.23. This represents a 70.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the completion of the sale, the vice president directly owned 6,274 shares in the company, valued at approximately $768,125.82. The trade was a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 133,105 shares of company stock worth $16,869,046. 1.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCAR. Brighton Jones LLC raised its position in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares in the last quarter. Focus Partners Wealth grew its position in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in PACCAR by 5.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 51,417 shares of the company’s stock worth $4,888,000 after buying an additional 2,461 shares in the last quarter. Quadrature Capital Ltd bought a new position in PACCAR in the 2nd quarter worth about $279,000. Finally, Mackenzie Financial Corp increased its stake in PACCAR by 10.4% in the 2nd quarter. Mackenzie Financial Corp now owns 95,501 shares of the company’s stock worth $9,078,000 after acquiring an additional 9,027 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

About PACCAR

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.