PACCAR (NASDAQ:PCAR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of PACCAR (NASDAQ:PCAR – Get Rating) in a report published on Thursday morning. The firm issued a buy rating on the stock.

A number of other brokerages have also recently commented on PCAR. Wolfe Research cut PACCAR from a peer perform rating to an underperform rating in a report on Tuesday, January 10th. Morgan Stanley lowered their target price on PACCAR to $64.89 and set an overweight rating on the stock in a report on Tuesday, February 7th. BMO Capital Markets increased their target price on PACCAR from $60.00 to $66.67 and gave the company a market perform rating in a report on Wednesday, February 1st. Bank of America increased their target price on PACCAR from $61.33 to $72.00 in a report on Sunday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on PACCAR from $69.33 to $46.00 and set a hold rating on the stock in a report on Tuesday, February 14th. One 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. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $50.44.

PACCAR Stock Performance

PCAR opened at $68.69 on Thursday. The stock has a market cap of $35.89 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.51 and a quick ratio of 2.29. The stock’s 50 day simple moving average is $60.97 and its 200 day simple moving average is $48.83. PACCAR has a 1-year low of $51.33 and a 1-year high of $76.71.

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

Insider Buying and Selling

In related news, Chairman Mark C. Pigott sold 106,405 shares of the stock in a transaction on Monday, January 30th. The stock was sold at an average price of $72.64, for a total value of $7,729,259.20. Following the transaction, the chairman now directly owns 4,789,197 shares of the company’s stock, valued at approximately $347,887,270.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Todd R. Hubbard sold 3,300 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $74.67, for a total value of $246,400.00. Following the transaction, the vice president now directly owns 4,773 shares of the company’s stock, valued at approximately $356,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark C. Pigott sold 106,405 shares of the stock in a transaction on Monday, January 30th. The stock was 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 directly owns 4,789,197 shares in the company, valued at $347,887,270.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,012 shares of company stock valued at $11,461,239. 2.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in PACCAR by 15.3% in the fourth quarter. Victory Capital Management Inc. now owns 631,622 shares of the company’s stock valued at $62,512,000 after purchasing an additional 83,974 shares during the period. Voya Investment Management LLC grew its stake in shares of PACCAR by 3.7% in the fourth quarter. Voya Investment Management LLC now owns 128,384 shares of the company’s stock valued at $12,706,000 after buying an additional 4,614 shares in the last quarter. Natixis raised its holdings in shares of PACCAR by 202.8% during the 4th quarter. Natixis now owns 88,674 shares of the company’s stock valued at $5,851,000 after buying an additional 59,391 shares during the period. Insight Advisors LLC PA acquired a new position in PACCAR during the 4th quarter worth approximately $684,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in PACCAR by 7.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,013 shares of the company’s stock worth $2,871,000 after acquiring an additional 2,071 shares during the period. 63.92% of the stock is owned by hedge funds and other institutional investors.

PACCAR Company Profile

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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.