PACCAR (NASDAQ:PCAR) Price Target Increased to $121.00 by Analysts at The Goldman Sachs Group

PACCAR (NASDAQ:PCAR) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $106.00 to $121.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 2.58% from the stock’s current price.

A number of other brokerages have also recently weighed in on PCAR. TD Cowen lifted their price target on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target for the company. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $84.00 to $97.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Evercore ISI lifted their price objective on shares of PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Trading Down 0.1 %

PCAR stock traded down $0.06 during trading on Tuesday, reaching $117.96. 164,746 shares of the stock were exchanged, compared to its average volume of 2,255,336. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $115.22 and a 200-day moving average price of $100.23. PACCAR has a 1 year low of $68.40 and a 1 year high of $125.50. The firm has a market capitalization of $61.81 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.79 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. PACCAR’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that PACCAR will post 8.16 earnings per share for the current year.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other PACCAR news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the transaction, the vice president now owns 5,726 shares in the company, valued at approximately $584,739.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,496 shares of company stock worth $15,834,812. 2.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACCAR

Large investors have recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in PACCAR during the 3rd quarter worth $26,000. AdvisorNet Financial Inc increased its holdings in PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in PACCAR by 61.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares in the last quarter. Riverview Trust Co purchased a new position in PACCAR during the 1st quarter valued at about $29,000. Finally, Arlington Trust Co LLC purchased a new position in PACCAR during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

About PACCAR

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.