PACCAR (NASDAQ:PCAR) had its target price boosted by equities researchers at Wells Fargo & Co from $75.00 to $80.00 in a research report issued on Thursday. The brokerage presently has a “market perform” rating on the stock. Wells Fargo & Co’s target price would indicate a potential upside of 4.52% from the company’s previous close.
A number of other brokerages have also recently commented on PCAR. Seaport Global Securities reiterated a “neutral” rating on shares of PACCAR in a report on Tuesday. Royal Bank of Canada reiterated a “buy” rating and set a $82.00 target price on shares of PACCAR in a report on Thursday, January 11th. Stifel Nicolaus lowered their target price on PACCAR from $76.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, October 25th. UBS Group set a $79.00 target price on PACCAR and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. set a $83.00 target price on PACCAR and gave the company a “buy” rating in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $75.58.
PACCAR (NASDAQ PCAR) traded up $0.57 during midday trading on Thursday, reaching $76.54. The company had a trading volume of 1,493,300 shares, compared to its average volume of 2,392,937. PACCAR has a 12-month low of $61.93 and a 12-month high of $76.83. The stock has a market cap of $27,090.00, a P/E ratio of 19.63, a P/E/G ratio of 1.61 and a beta of 1.22. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75.
In related news, VP Alma Lily Ley sold 4,024 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the transaction, the vice president now directly owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total value of $7,062,489.72. Following the completion of the transaction, the insider now directly owns 2,985,401 shares in the company, valued at $213,068,069.37. 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 90 days. Insiders own 2.64% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PCAR. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in PACCAR by 18.8% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after purchasing an additional 300 shares during the period. Sun Life Financial INC raised its position in PACCAR by 19,884.6% in the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after purchasing an additional 2,585 shares during the period. Hartland & Co. LLC purchased a new position in PACCAR in the third quarter valued at about $206,000. BB&T Securities LLC purchased a new position in PACCAR in the third quarter valued at about $210,000. Finally, Brown Advisory Securities LLC purchased a new position in PACCAR in the third quarter valued at about $214,000. 62.26% of the stock is currently owned by institutional investors and hedge funds.
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.
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