PACCAR (NASDAQ:PCAR) Price Target Raised to $131.00

PACCAR (NASDAQ:PCAR) had its price objective boosted by stock analysts at Truist Financial from $126.00 to $131.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 8.05% from the company’s current price.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. BNP Paribas Exane initiated coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Finally, Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $122.45.

PACCAR Price Performance

NASDAQ:PCAR opened at $121.24 on Thursday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The firm has a market cap of $63.81 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. PACCAR has a 12 month low of $92.25 and a 12 month high of $131.88. The company’s 50-day moving average price is $116.59 and its two-hundred day moving average price is $118.66.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the business earned $1.46 EPS. PACCAR’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR will post 5.59 EPS for the current fiscal year.

Hedge Funds Weigh In On PACCAR

Several hedge funds have recently added to or reduced their stakes in PCAR. Deseret Mutual Benefit Administrators grew its position in shares of PACCAR by 9.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after buying an additional 80 shares during the period. Gulf International Bank UK Ltd grew its holdings in PACCAR by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC increased its stake in PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after purchasing an additional 87 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after purchasing an additional 87 shares in the last quarter. Finally, Jackson Square Capital LLC raised its holdings in PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.