PACCAR (NASDAQ:PCAR) Given New $124.00 Price Target at Truist Financial

PACCAR (NASDAQ:PCAR) had its target price cut by analysts at Truist Financial from $125.00 to $124.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial‘s price target would indicate a potential upside of 21.01% from the stock’s previous close.

Several other research firms have also weighed in on PCAR. Royal Bank Of Canada raised PACCAR from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $130.00 to $150.00 in a research note on Thursday, September 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $148.00 target price (up from $142.00) on shares of PACCAR in a research report on Wednesday, July 29th. Jefferies Financial Group upped their target price on PACCAR from $120.00 to $140.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. Wells Fargo & Company set a $122.00 price target on PACCAR and gave the company an “equal weight” rating in a research report on Thursday, October 8th. Finally, Citigroup dropped their price target on PACCAR from $140.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $133.79.

PACCAR Price Performance

PCAR stock traded down $1.26 on Wednesday, hitting $102.47. 1,791,722 shares of the company’s stock traded hands, compared to its average volume of 3,208,265. PACCAR has a 1-year low of $93.86 and a 1-year high of $139.24. The stock has a market cap of $53.94 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 1.23 and a beta of 0.98. The stock has a fifty day moving average of $116.38 and a 200-day moving average of $120.40. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 27th. The company reported $1.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.61. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.48 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. On average, analysts forecast that PACCAR will post 5.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO R Feight sold 50,975 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the transaction, the chief executive officer owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

A number of large investors have recently made changes to their positions in the business. Paladin Partners LLC acquired a new stake in shares of PACCAR during the second quarter worth approximately $27,000. Fiduciary Financial Advisors purchased a new position in PACCAR during the second quarter valued at approximately $28,000. Compass Financial Management LLC purchased a new position in PACCAR during the second quarter valued at approximately $28,000. Continuum Advisory LLC acquired a new position in PACCAR in the 2nd quarter valued at approximately $29,000. Finally, EFG International AG acquired a new position in PACCAR in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Key Stories Impacting PACCAR

Here are the key news stories impacting PACCAR this week:

• Positive Sentiment: Third-quarter net income rose 44% year over year to $847.5 million, while revenue increased approximately 19% to $7.94 billion. The results point to resilient demand for PACCAR’s truck brands and improving profitability. PACCAR: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Management’s earnings-call commentary was broadly upbeat, highlighting strong growth, an anticipated fleet-replacement cycle and a constructive business outlook. PACCAR Earnings Call Highlights Strong Growth And Outlook
• Neutral Sentiment: EPS was $1.61, up from $1.12 a year earlier, but matched the consensus estimate rather than exceeding it. Reported revenue of $7.38 billion in one earnings report was below the $7.48 billion consensus estimate, while other coverage cited revenue of $7.94 billion; investors are therefore focused on the underlying revenue discrepancy and the quality of growth. PACCAR Inc Reports Earnings Results
• Negative Sentiment: Analysts remain cautious. Morgan Stanley maintained a Hold rating with a $125 price target, while Truist reduced its target to $124 from $125, suggesting limited near-term upside and a balanced risk-reward profile. Truist Adjusts Price Target on PACCAR
• Negative Sentiment: The stock is lagging after the report because strong year-over-year growth was largely anticipated; an in-line EPS result and revenue shortfall provide limited evidence of a positive earnings surprise. Shares remain below their 50-day and 200-day moving averages, reinforcing the cautious market reaction. PACCAR Stock Lags Despite Strong Q3 Earnings

About PACCAR

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.