JPMorgan Chase & Co. Forecasts Strong Price Appreciation for PACCAR (NASDAQ:PCAR) Stock

PACCAR (NASDAQ:PCAR) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $122.00 to $125.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.57% from the stock’s current price.

A number of other equities research analysts also recently weighed in on PCAR. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. BNP Paribas raised shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Finally, Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $118.75.

PACCAR Price Performance

NASDAQ PCAR traded up $1.58 on Monday, hitting $108.16. 893,829 shares of the company were exchanged, compared to its average volume of 2,094,314. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The firm has a 50 day moving average of $111.26 and a two-hundred day moving average of $103.81. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market cap of $56.71 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.77 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 earnings per share. On average, equities analysts predict that PACCAR will post 7.98 EPS for the current year.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the transaction, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PCAR. Wedmont Private Capital raised its position in shares of PACCAR by 7.8% in the fourth quarter. Wedmont Private Capital now owns 8,417 shares of the company’s stock valued at $897,000 after buying an additional 606 shares in the last quarter. Brookstone Capital Management increased its stake in PACCAR by 632.7% during the 4th quarter. Brookstone Capital Management now owns 16,142 shares of the company’s stock worth $1,679,000 after acquiring an additional 13,939 shares during the period. Matrix Trust Co raised its holdings in PACCAR by 581.6% in the 4th quarter. Matrix Trust Co now owns 1,663 shares of the company’s stock valued at $173,000 after acquiring an additional 1,419 shares in the last quarter. Czech National Bank lifted its position in shares of PACCAR by 6.5% during the 4th quarter. Czech National Bank now owns 113,679 shares of the company’s stock valued at $11,825,000 after acquiring an additional 6,890 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of PACCAR during the 4th quarter worth $76,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.