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Paccar Inc. (PCAR) gets rating Initiated from RBC Capital Mkts

Paccar Inc.’s recently made public that its PRESIDENT & CFO SCHIPPERS HARRIE unloaded Company’s shares for reported $3.48 million on Feb 12 ’24. In the deal valued at $106.08 per share,32,797 shares were sold. As a result of this transaction, SCHIPPERS HARRIE now holds 103,547 shares worth roughly $11.77 million.

Then, HUBBARD TODD R sold 2,000 shares, generating $212,300 in total proceeds. Upon selling the shares at $106.15, the VICE PRESIDENT now owns 5,726 shares.

Before that, SCHIPPERS HARRIE sold 32,000 shares. Paccar Inc. shares valued at $3,329,248 were divested by the PRESIDENT & CFO at a price of $104.04 per share. As a result of the transaction, SCHIPPERS HARRIE now holds 103,547 shares, worth roughly $11.77 million.

RBC Capital Mkts initiated its Paccar Inc. [PCAR] rating to a Sector perform in a research note published on March 26, 2024; the price target was $123. A number of analysts have revised their coverage, including UBS’s analysts, who increased its forecast for the stock in mid March from “a Neutral” to “a Buy”. Truist began covering PCAR with “Hold” recommendation on March 14, 2024. TD Cowen maintained its rating on January 24, 2024. It rated PCAR as “a Market perform”.

Price Performance Review of PCAR

On Monday, Paccar Inc. [NASDAQ:PCAR] saw its stock jump 1.50% to $113.64. Over the last five days, the stock has gained 0.94%. Paccar Inc. shares have risen nearly 16.37% since the year began. Nevertheless, the stocks have risen 59.46% over the past one year. While a 52-week high of $125.50 was reached on 03/28/24, a 52-week low of $66.17 was recorded on 01/04/24. SMA at 50 days reached $116.37, while 200 days put it at $96.79. A total of 3.79 million shares were traded, compared to the trading of 2.8 million shares in the previous session.

Levels Of Support And Resistance For PCAR Stock

The 24-hour chart illustrates a support level at 112.59, which if violated will result in even more drops to 111.54. On the upside, there is a resistance level at 114.43. A further resistance level may holdings at 115.21. The Relative Strength Index (RSI) on the 14-day chart is 42.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.14%. Stochastics %K at 19.79% indicates the stock is a buying.

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