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PCAR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Paccar Inc (PCAR) stock moving?
PACCAR's Q3 2026 report was strong on the numbers: revenue rose 19% to $7.94B, net income rose 44% to $847.5M ($1.61 per diluted share vs $1.12), truck deliveries reached 40,100 units, and PACCAR Parts posted record revenue of $1.78B. Nine-month net income of $2.20B compares with $1.82B a year earlier, which included a $264.5M European litigation charge. The stock nonetheless sold off after the print: it fell from $106.61 on Oct 23 to $101.57 on Oct 30, with volume spiking to 9.07M shares on Oct 27, the results day. Analysts kept their ratings but trimmed targets: J.P. Morgan to $132 (Overweight), Truist to $124 from $125 (Hold), and Evercore to $134 (Outperform, Nov 10). Since the Oct 30 low the shares have recovered to $105.57 on Nov 10, on volume that has eased to about 3.2M. Daily ranges of 2-5% and a trading band of roughly $101.6 to $108.5 over the last month point to continued volatility. A $0.35 dividend was scheduled for Nov 10. The main tension is between accelerating earnings and parts strength on one side and cautious target revisions and a slow truck fleet refresh on the other.
News behind the analysis
- Evercore ISI Group Maintains Outperform on PACCAR, Lowers Price Target to $134Evercore ISI kept its Outperform rating on PACCAR and cut its price target to $134.
- PACCAR Price Target Reduced by AnalystAn analyst firm lowered its price target for PACCAR shares, following the Q3 2026 results.
- PACCAR Inc. Declares Dividend PaymentPACCAR scheduled a dividend payment of $0.35 per share for November 10, 2026.
- Wall Street Analysts Update PACCAR Price Targets Following Q3 2026 EarningsJ.P. Morgan, BofA Global Research and Truist adjusted their price targets after the third-quarter report.
- JP Morgan Maintains Overweight on PACCAR, Lowers Price Target to $132J.P. Morgan kept its Overweight rating on PACCAR and lowered its price target to $132.
- Truist Securities Maintains Hold on PACCAR, Lowers Price Target to $124Truist kept its Hold rating on PACCAR and cut its price target to $124.
- Truist Adjusts Price Target on PACCAR to $124 From $125, Maintains Hold RatingTruist trimmed its PACCAR price target by $1 to $124 and kept its Hold rating.
About Paccar Inc
PACCAR is a Bellevue, Washington company that designs and builds heavy and medium-duty trucks under the Kenworth, Peterbilt and DAF brands, selling them in North America, Europe, South America and Australia. It is known for premium-priced trucks, a large and growing aftermarket parts business, its own in-house engines and powertrains, and a long record of staying profitable through industry ups and downs.
How it makes money
Most revenue (roughly 70%) comes from selling new trucks. In Q3 2026, truck sales were about $5.6 billion of about $7.9 billion in total revenue. The PACCAR Parts aftermarket business adds roughly 20% of revenue, a record of about $1.8 billion that quarter, and it tends to earn higher, steadier profit margins. PACCAR Financial Services makes up the rest (under 10%) by providing loans and leases to buyers of PACCAR trucks.
What usually moves PCAR
- North American and European heavy-truck demand cycles
- Freight rates and trucking fleet profitability
- Emissions rules such as the EPA's 2027 standards that can cause customers to buy early
- Aftermarket parts growth and margins
- Supply chain constraints and tariff or input costs
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