Morgan Stanley analyst Dillon Cumming maintained a Buy rating on Paccar (PCAR – Research Report) today and set a price target of $97.33. The company’s shares opened today at $110.11.
Cumming covers the Industrial Goods sector, focusing on stocks such as Paccar, Cummins, and Agco. According to TipRanks, Cumming has an average return of -0.2% and a 42.42% success rate on recommended stocks.
In addition to Morgan Stanley, Paccar also received a Buy from Bernstein’s Chad Dillard in a report issued on January 25. However, on February 1, BMO Capital maintained a Hold rating on Paccar (NASDAQ: PCAR).
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Based on Paccar’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $8.13 billion and a net profit of $921.3 million. In comparison, last year the company earned a revenue of $6.69 billion and had a net profit of $505.3 million
Based on the recent corporate insider activity of 67 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. Earlier this month, DOZIER C MICHAEL, the EVP of PCAR sold 31,538.00 shares for a total of $3,485,264.38.
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.
Founded in 1905, Washington-based PACCAR, Inc. is a global technology company, which designs and manufactures light, medium, and heavy-duty commercial trucks. The company operates through three segments: Truck, Parts and Financial Services.
Read More on PCAR:
- Paccar price target raised to $100 from $90 at BMO Capital
- Paccar price target raised to $108 from $92 at BofA
- Paccar price target raised to $112 from $105 at Credit Suisse
- Paccar price target raised to $130 from $120 at Raymond James
- Mayville Engineering price target raised to $19 from $15 at Baird
