PACCAR (NASDAQ:PCAR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other research analysts also recently issued research reports about the stock. Piper Jaffray Companies upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research report on Wednesday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $72.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, October 24th. Credit Suisse Group decreased their price objective on shares of PACCAR from $69.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, October 16th. Finally, ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $68.87.

Shares of PACCAR stock opened at $59.95 on Thursday. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.91 and a beta of 1.39. PACCAR has a fifty-two week low of $53.95 and a fifty-two week high of $79.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.63 and a quick ratio of 2.44.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.04. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.50 billion. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, sell-side analysts predict that PACCAR will post 6.16 earnings per share for the current year.

In related news, VP David J. Danforth sold 651 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total transaction of $38,695.44. Following the completion of the sale, the vice president now owns 5,453 shares of the company’s stock, valued at approximately $324,126.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Douglas S. Grandstaff sold 607 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $59.67, for a total transaction of $36,219.69. Following the sale, the vice president now directly owns 5,284 shares of the company’s stock, valued at approximately $315,296.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,262 shares of company stock valued at $11,490,110. 2.64% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC grew its stake in PACCAR by 85.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock valued at $123,000 after acquiring an additional 990 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in PACCAR by 5,888.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock valued at $126,000 after acquiring an additional 2,002 shares in the last quarter. Amussen Hunsaker Associates LLC purchased a new stake in PACCAR during the 2nd quarter valued at about $132,000. HighPoint Advisor Group LLC purchased a new stake in PACCAR during the 3rd quarter valued at about $178,000. Finally, Boltwood Capital Management purchased a new stake in PACCAR during the 3rd quarter valued at about $204,000. 61.26% of the stock is owned by institutional investors.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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