PACCAR (NASDAQ:PCAR) was upgraded by research analysts at Wells Fargo & Co from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat reports. The brokerage currently has a $90.00 price objective on the stock, up from their prior price objective of $75.00. Wells Fargo & Co‘s price objective points to a potential upside of 15.82% from the company’s current price.
Other equities research analysts have also issued reports about the company. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating in a research report on Thursday, November 14th. ValuEngine lowered PACCAR from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Buckingham Research upped their price objective on PACCAR from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley upped their price objective on PACCAR from $64.00 to $67.00 and gave the stock an “underweight” rating in a research note on Monday, December 16th. Finally, OTR Global downgraded PACCAR from a “mixed” rating to a “negative” rating in a research note on Wednesday, October 9th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. PACCAR presently has an average rating of “Hold” and a consensus target price of $73.84.
Shares of PCAR stock traded down $0.19 on Tuesday, hitting $77.71. 18,214 shares of the stock traded hands, compared to its average volume of 1,363,246. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.39 and a quick ratio of 2.23. The company has a market capitalization of $27.05 billion, a PE ratio of 12.46, a PEG ratio of 2.01 and a beta of 1.26. PACCAR has a 1-year low of $59.46 and a 1-year high of $83.41. The company’s fifty day moving average is $80.07 and its 200 day moving average is $73.23.
In other news, SVP Darrin C. Siver sold 12,474 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $77.01, for a total value of $960,622.74. Following the completion of the transaction, the senior vice president now owns 30,600 shares of the company’s stock, valued at $2,356,506. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 7,927 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $77.73, for a total value of $616,165.71. Following the completion of the transaction, the chief financial officer now directly owns 40,051 shares of the company’s stock, valued at approximately $3,113,164.23. The disclosure for this sale can be found here. In the last three months, insiders sold 106,949 shares of company stock valued at $8,207,798. Company insiders own 2.32% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV bought a new position in shares of PACCAR in the third quarter worth $34,000. Point72 Asset Management L.P. bought a new position in shares of PACCAR in the second quarter worth $41,000. Compagnie Lombard Odier SCmA grew its stake in shares of PACCAR by 35.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 606 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares in the last quarter. Rational Advisors LLC lifted its holdings in shares of PACCAR by 37.4% in the third quarter. Rational Advisors LLC now owns 940 shares of the company’s stock valued at $66,000 after buying an additional 256 shares during the period. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of PACCAR by 409.8% in the second quarter. CSat Investment Advisory L.P. now owns 938 shares of the company’s stock valued at $67,000 after buying an additional 754 shares during the period. 63.60% of the stock is owned by institutional investors.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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