A number of other equities research analysts have also recently weighed in on PCAR. Zacks Investment Research upgraded shares of PACCAR from a hold rating to a buy rating and set a $75.00 price objective on the stock in a report on Tuesday, March 12th. Longbow Research cut shares of PACCAR from a buy rating to a neutral rating and set a $71.38 price objective on the stock. in a report on Monday, May 6th. BMO Capital Markets upped their price objective on shares of PACCAR to $70.00 and gave the stock a market perform rating in a report on Friday, May 17th. Evercore ISI restated an in-line rating and issued a $76.00 price objective (up previously from $73.00) on shares of PACCAR in a report on Friday, May 31st. Finally, Loop Capital cut shares of PACCAR from a hold rating to a sell rating and cut their price objective for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $66.31.
Shares of NASDAQ PCAR opened at $70.61 on Thursday. PACCAR has a 1 year low of $53.43 and a 1 year high of $73.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.32. The company’s 50-day moving average is $69.63. The stock has a market capitalization of $24.46 billion, a PE ratio of 10.70, a P/E/G ratio of 1.25 and a beta of 1.25.
In other news, insider Darrin C. Siver sold 5,067 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total transaction of $355,196.70. Following the sale, the insider now owns 23,193 shares in the company, valued at $1,625,829.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP David J. Danforth sold 4,315 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total transaction of $305,027.35. Following the sale, the vice president now owns 7,286 shares in the company, valued at approximately $515,047.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,301 shares of company stock worth $1,554,065. Corporate insiders own 2.32% of the company’s stock.
Several large investors have recently bought and sold shares of PCAR. Norges Bank purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $333,867,000. Great Lakes Advisors LLC purchased a new stake in shares of PACCAR during the first quarter valued at approximately $46,854,000. AJO LP grew its holdings in shares of PACCAR by 622.0% during the first quarter. AJO LP now owns 718,613 shares of the company’s stock valued at $48,966,000 after buying an additional 619,081 shares during the last quarter. BlackRock Inc. grew its holdings in shares of PACCAR by 2.2% during the first quarter. BlackRock Inc. now owns 25,851,876 shares of the company’s stock valued at $1,761,547,000 after buying an additional 554,802 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of PACCAR by 139.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 943,149 shares of the company’s stock valued at $53,893,000 after buying an additional 548,660 shares during the last quarter. Hedge funds and other institutional investors own 63.30% 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, 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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