Wells Fargo & Co Increases PACCAR (PCAR) Price Target to $80.00

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.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the business posted $0.98 EPS. PACCAR’s quarterly revenue was up 19.7% on a year-over-year basis. equities research analysts anticipate that PACCAR will post 4.19 earnings per share for the current year.

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.

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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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