PACCAR (NASDAQ:PCAR) Earns Neutral Rating from Analysts at BNP Paribas Exane

BNP Paribas Exane assumed coverage on shares of PACCAR (NASDAQ:PCAR) in a report released on Tuesday. The brokerage issued a neutral rating and a $126.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. Truist Financial increased their price objective on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. lifted their price objective on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $117.00.

PACCAR Stock Up 0.6%

PACCAR stock opened at $118.32 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.98 and a quick ratio of 2.79. The stock has a market capitalization of $62.27 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 0.99 and a beta of 1.06. The business has a 50 day simple moving average of $121.55 and a 200-day simple moving average of $110.67. PACCAR has a 12 month low of $84.65 and a 12 month high of $131.88.

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

Insider Buying and Selling

In other news, CEO R Preston Feight sold 9,258 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares in the company, valued at $33,536,010.20. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. This represents a 70.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 in the last ninety days. Company insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System increased its holdings in PACCAR by 0.8% during the 3rd quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after purchasing an additional 9,045 shares during the period. JT Stratford LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at about $1,301,000. National Pension Service boosted its stake in shares of PACCAR by 5.5% in the 3rd quarter. National Pension Service now owns 939,146 shares of the company’s stock valued at $92,337,000 after buying an additional 48,711 shares during the period. AE Wealth Management LLC grew its position in shares of PACCAR by 29.1% during the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock worth $3,893,000 after buying an additional 8,932 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in PACCAR by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock worth $6,205,117,000 after acquiring an additional 485,678 shares in the last quarter. 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.