Movement Alert｜PACCAR Inc Falls 3.07% in Regular Trading, Target Price Trim and Cycle Durability Questions Weigh on Shares

Market Focus10-28

On October 28, PACCAR Inc fell 3.07% in Regular Trading, trading at $100.5 per share, with turnover of $62.09 million.

The move coincided with a brokerage target price cut to $124 from $125 while maintaining a Hold rating, as investors continued to reassess the durability of the heavy-truck recovery even after the company reported third-quarter results above expectations.

For the quarter reported on October 27, PACCAR Inc posted EPS of $1.61 versus the $1.59 consensus estimate, while revenue rose 19.0% year over year to $7.94 billion, also ahead of expectations. Parts revenue reached a record $1.78 billion, and Financial Services delivered pretax profit of $138.1 million, indicating that aftermarket and finance operations remained supportive to earnings, even as the market stayed focused on the sustainability of the truck production cycle.

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