PACCAR (NASDAQ:PCAR) Price Target Raised to $164.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its target price upped by stock analysts at JPMorgan Chase & Co. from $155.00 to $164.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 18.66% from the stock’s current price.

Other analysts also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of PACCAR from $109.00 to $113.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. BNP Paribas Exane initiated coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Truist Financial lifted their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.40.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $138.21 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The firm has a market cap of $72.74 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 1.22 and a beta of 0.97. The business’s 50-day simple moving average is $120.01 and its 200-day simple moving average is $120.57. PACCAR has a 52 week low of $92.25 and a 52 week high of $139.24.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the business earned $1.37 EPS. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts expect that PACCAR will post 5.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators raised its holdings in PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after acquiring an additional 80 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of PACCAR by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after purchasing an additional 81 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in shares of PACCAR by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after purchasing an additional 87 shares during the period. Parkside Financial Bank & Trust increased its position in shares of PACCAR by 3.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after purchasing an additional 87 shares during the period. Finally, Jackson Square Capital LLC raised its stake in shares of PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after purchasing an additional 90 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR News Summary

Here are the key news stories impacting PACCAR this week:

• Positive Sentiment: Earnings exceeded expectations: PACCAR reported second-quarter EPS of $1.43, above the $1.36 analyst consensus and up from $1.37 a year ago. Revenue reached approximately $7.0 billion, broadly in line with expectations and 0.5% higher year over year. PACCAR earnings results
• Positive Sentiment: Profitability improved: Higher truck profitability and record parts revenue helped offset softer sales. Management said net income increased 24% from the preceding quarter, while stronger orders supported higher production rates. PACCAR Q2 earnings surpass expectations
• Positive Sentiment: Outlook remains constructive: Stable truck demand, improved freight rates and strong customer orders are supporting build rates and margins. Analysts also highlighted greater regulatory clarity as a factor supporting PACCAR’s outlook. PCAR Q2 deep dive
• Neutral Sentiment: Strategic investment continues: Management discussed ongoing investments intended to support PACCAR’s long-term competitive position, though these could affect near-term spending and returns. PACCAR Q2 earnings call highlights
• Negative Sentiment: Revenue growth was modest: Quarterly revenue slightly trailed the $7.05 billion consensus, and softer sales remain a concern in the cyclical commercial-truck market. PCAR’s valuation—about 29 times earnings—also leaves less room for disappointing results.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.