PACCAR (PCAR) Stock Rating Upgraded by Bank of America

PACCAR (NASDAQ:PCAR) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $70.00 target price on the stock. Bank of America’s price objective would suggest a potential downside of 5.29% from the company’s current price.

A number of other brokerages have also recently issued reports on PCAR. Susquehanna Bancshares initiated coverage on shares of PACCAR in a report on Wednesday, November 29th. They issued a “neutral” rating and a $75.00 target price on the stock. Wells Fargo & Co cut their target price on shares of PACCAR from $77.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, October 25th. ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Stifel Nicolaus cut their target price on shares of PACCAR from $76.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. cut shares of PACCAR from an “overweight” rating to a “neutral” rating and set a $73.00 target price on the stock. in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $75.05.

PACCAR (NASDAQ PCAR) opened at $73.91 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. PACCAR has a twelve month low of $61.93 and a twelve month high of $75.68. The stock has a market cap of $25,990.00, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.52 and a beta of 1.22.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the company posted $0.98 earnings per share. PACCAR’s revenue was up 19.7% on a year-over-year basis. equities analysts expect that PACCAR will post 4.18 EPS for the current fiscal year.

In related news, VP Alma Lily Ley sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the transaction, the vice president now owns 24,319 shares in the company, valued at $1,726,649. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $69.02, for a total transaction of $249,714.36. The disclosure for this sale can be found here. Insiders have sold 106,598 shares of company stock worth $7,597,908 in the last quarter. Company insiders own 2.64% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after buying an additional 300 shares in the last quarter. Sun Life Financial INC boosted its holdings in PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after buying an additional 2,585 shares in the last quarter. Hartland & Co. LLC bought a new stake in PACCAR during the third quarter worth approximately $206,000. BB&T Securities LLC bought a new stake in PACCAR during the third quarter worth approximately $210,000. Finally, Brown Advisory Securities LLC bought a new stake in PACCAR during the third quarter worth approximately $214,000. Institutional investors and hedge funds own 62.26% of the company’s stock.

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About PACCAR

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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