Citigroup Inc. Boosts PACCAR Inc. (PCAR) Price Target to $81.00
PACCAR Inc. (NASDAQ:PCAR) had its price target boosted by stock analysts at Citigroup Inc. from $78.00 to $81.00 in a research report issued on Friday. The firm presently has a “buy” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 11.07% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of PACCAR from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Thursday, June 15th. Buckingham Research initiated coverage on shares of PACCAR in a report on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $75.42.
Shares of PACCAR (NASDAQ:PCAR) traded down 0.0895% during trading on Friday, reaching $72.8647. The company’s stock had a trading volume of 900,408 shares. The stock’s 50 day moving average price is $69.80 and its 200-day moving average price is $66.74. PACCAR has a 12 month low of $53.38 and a 12 month high of $74.79. The firm has a market cap of $25.60 billion, a PE ratio of 19.5034 and a beta of 1.18.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. PACCAR’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. Equities analysts predict that PACCAR will post $4.02 EPS for the current year.
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In other news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.64% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in PACCAR by 6.6% in the second quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock worth $1,684,572,000 after purchasing an additional 1,572,038 shares during the last quarter. Vanguard Group Inc. lifted its stake in PACCAR by 5.0% in the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock worth $1,621,636,000 after purchasing an additional 1,164,896 shares during the last quarter. State Street Corp lifted its stake in PACCAR by 0.9% in the first quarter. State Street Corp now owns 15,141,782 shares of the company’s stock worth $1,017,524,000 after purchasing an additional 135,416 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in PACCAR by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 6,071,129 shares of the company’s stock worth $400,938,000 after purchasing an additional 580,223 shares during the last quarter. Finally, Waddell & Reed Financial Inc. lifted its stake in PACCAR by 14.5% in the first quarter. Waddell & Reed Financial Inc. now owns 4,299,956 shares of the company’s stock worth $288,957,000 after purchasing an additional 544,958 shares during the last quarter. 62.13% of the stock is owned by institutional investors and hedge funds.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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