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Paccar (PCAR) Receives a Buy from Bank of America Securities

Tipranks - Thu Feb 5, 5:38AM CST

In a report released today, Michael Feniger from Bank of America Securities maintained a Buy rating on Paccar, with a price target of $131.50.

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Feniger covers the Industrials sector, focusing on stocks such as Caterpillar, Paccar, and CNH Industrial. According to TipRanks, Feniger has an average return of 11.6% and a 65.08% success rate on recommended stocks.

In addition to Bank of America Securities, Paccar also received a Buy from TipRanks – xAI’s xAi Agricultural – Machinery in a report issued on January 28. However, yesterday, Morgan Stanley maintained a Hold rating on Paccar (NASDAQ: PCAR).

Based on Paccar’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.82 billion and a net profit of $556.9 million. In comparison, last year the company earned a revenue of $7.91 billion and had a net profit of $872 million

Based on the recent corporate insider activity of 107 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, C MICHAEL DOZIER, the EVP of PCAR sold 79,076.00 shares for a total of $10,114,611.16.

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