PACCAR (NASDAQ:PCAR) PT Lowered to $99.00

PACCAR (NASDAQ:PCAR) had its price objective cut by investment analysts at Evercore ISI from $109.00 to $99.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price target indicates a potential upside of 3.46% from the stock’s previous close.

PCAR has been the subject of several other research reports. Citigroup dropped their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. decreased their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average target price of $112.73.

PACCAR Stock Performance

Shares of PCAR stock opened at $95.69 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The stock has a market cap of $50.16 billion, a PE ratio of 9.93, a P/E/G ratio of 1.45 and a beta of 0.92. PACCAR has a 1 year low of $80.94 and a 1 year high of $125.50. The stock has a fifty day moving average price of $100.97 and a 200 day moving average price of $108.24.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.33 earnings per share. Sell-side analysts forecast that PACCAR will post 8.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after purchasing an additional 171,317 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of PACCAR by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after buying an additional 89,984 shares during the last quarter. Norges Bank acquired a new stake in shares of PACCAR during the fourth quarter worth approximately $448,288,000. Legal & General Group Plc increased its stake in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock worth $445,681,000 after buying an additional 242,435 shares during the last quarter. Finally, Capital International Investors raised its holdings in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

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.