Paccar (PCAR) received a Hold rating and a $65.00 price target from Cowen & Co. analyst Matt Elkott today. The company’s shares closed last Monday at $64.56, close to its 52-week low of $62.13.
According to TipRanks.com, Elkott is a 3-star analyst with an average return of 2.5% and a 39.4% success rate. Elkott covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies, Trinity Industries, and Greenbrier.
The word on The Street in general, suggests a Hold analyst consensus rating for Paccar with a $73.17 average price target, a 17.3% upside from current levels. In a report issued on March 2, Vertical Research also upgraded the stock to Hold.
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Based on Paccar’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $531 million. In comparison, last year the company earned revenue of $6.28 billion and had a net profit of $578 million.
Based on the recent corporate insider activity of 137 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PCAR in relation to earlier this year. Last month, Marco Davila, the VP of PCAR sold 6,200 shares for a total of $482,608.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
PACCAR, Inc. is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services.
