PACCAR Inc. (NASDAQ:PCAR) reported second-quarter earnings that beat analyst expectations on Tuesday, while quarterly sales narrowly missed estimates.
The company reported second-quarter earnings per share of $1.37, beating the analyst consensus estimate of $1.34. Quarterly sales of $6.962 billion missed the Street view of $6.979 billion.
"PACCAR's investments in new trucks such as DAF's 2025 truck range, advanced manufacturing, and technology-enabled aftermarket solutions, will support customers' and the company's growth," said Preston Feight, chief executive officer.
PACCAR shares gained 3.2% to trade at $101.73 on Wednesday.
These analysts made changes to their price targets on PACCAR following earnings announcement.
- Truist Securities analyst Jamie Cook maintained PACCAR with a Hold and lowered the price target from $102 to $98.
- JP Morgan analyst Tami Zakaria maintained the stock with a Neutral and raised the price target from $95 to $97.
- UBS analyst Steven Fisher upgraded PACCAR from Sell to Neutral and raised the price target from $81 to $100.
Considering buying PCAR stock? Here’s what analysts think:
Read This Next:
Photo via Shutterstock
