Analyst Price Target Update on PACCAR (NASDAQ:PCAR)

PACCAR (NASDAQ:PCAR) stock has received a short term price target of $ 56.18 from 11 Analyst. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $12.04. The higher estimate of target price is $70 , while the lower price target estimate is $30

Many analysts have stated their opinion on the company shares. Goldman Sachs downgrades their rating on the shares of PACCAR (NASDAQ:PCAR). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. Equity Analysts at the Firm lowers the price target to $63 per share from $67 per share. The rating by the firm was issued on June 3, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CFO of Paccar Inc, Christensen Robert J. had purchased shares worth of $47,128 in a transaction dated on May 4, 2016. A total of 849 shares were purchased at a price of $55.51 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

PACCAR (NASDAQ:PCAR) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.34 points or 0.62% at $54.55 with 1,629,716 shares getting traded. Post opening the session at $54.8, the shares hit an intraday low of $54.39 and an intraday high of $55.4 and the price was in this range throughout the day. The company has a market cap of $19,118 million and the number of outstanding shares have been calculated to be 350,462,850 shares. The 52-week high of PACCAR (NASDAQ:PCAR) is $66.43 and the 52-week low is $43.46.

PACCAR Inc is a company operating in three principal industry segments: the Truck segment, includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, includes finance and leasing products and services provided to customers and dealers in the United States, Canada, Mexico, Europe and Australia. The Company also operates in Australia and Brazil, and sells trucks and parts to customers in Asia, Africa, Middle East and South America. The Companys trucks are marketed under the Kenworth, Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.

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