Monthly Stock Report: PACCAR Inc. (PCAR)
Publication Date: September 22, 2024
Company Overview
PACCAR Inc. (PCAR), headquartered in Bellevue, Washington, is a leading global manufacturer of light, medium, and heavy-duty commercial trucks. Established in 1905, the company operates within the Industrials sector, specifically in the Farm and Heavy Construction Machinery industry. PACCAR’s primary business segments include Truck, Parts, and Financial Services, with renowned truck brands like Kenworth, Peterbilt, and DAF catering to diverse transportation needs. The Parts segment focuses on supplying aftermarket components, while the Financial Services segment offers leasing, financing, and administrative support to trucking companies and independent operators. As of now, PACCAR displays a strong operational footprint with total revenues approximating $35.29 billion, underscoring its substantial presence in the market.
Market Performance and Analyst Insights
The current market price for PACCAR’s stock stands at $98.91, with an optimistic target high price of $139.00, indicating potential upside for investors. However, analysts currently recommend a “hold” strategy, reflecting caution in pursuing new investments at this time. The average target price is pegged at $110.11, suggesting moderate expectations for short-term growth, while the median price is slightly lower at $107.00. The stock has a significant trading history, with a 52-week high of $125.50 and a low of $80.94, demonstrating volatility over the past year. This performance range highlights the importance of closely monitoring market conditions, as fluctuations present both risks and opportunities.
Short Selling and Investor Sentiment
PACCAR has a total of 524,222,016 shares outstanding, of which 3.07% (13,915,297 shares) are currently shorted. This relatively low short percentage indicates bullish sentiment among investors, suggesting confidence in the company’s financial health and growth potential. Despite a mixed outlook among 15 contributing analysts, the recommendation mean of 2.7 aligns with a “hold” strategy, encouraging investors to maintain existing positions. Understanding these dynamics is crucial for stakeholders considering their next moves in the ever-evolving stock market.
Overall, PACCAR Inc. showcases solid fundamentals and potential growth, but investor sentiment remains cautious amidst market fluctuations.
| Metric | Value |
|---|---|
| Market Cap | $51.9b |
| Total Debt | $14.5b |
| Total Cash | $7.8b |
| Shares Outstanding | 524.2m |
| Float Shares | 514.2m |
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