Citigroup Increases PACCAR (NASDAQ:PCAR) Price Target to $125.00

PACCAR (NASDAQ:PCARGet Free Report) had its price objective lifted by analysts at Citigroup from $120.00 to $125.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 1.70% from the company’s current price.

Other analysts also recently issued research reports about the stock. Truist Financial raised their price objective on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Morgan Stanley increased their target price on PACCAR from $93.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $115.92.

View Our Latest Stock Analysis on PCAR

PACCAR Price Performance

Shares of PACCAR stock opened at $122.91 on Thursday. The stock has a market cap of $64.55 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 1.70. The stock has a 50 day moving average price of $113.86 and a 200-day moving average price of $103.69. PACCAR has a one year low of $84.65 and a one year high of $125.36.

PACCAR (NASDAQ:PCARGet Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the business posted $1.66 earnings per share. The business’s revenue was down 15.1% compared to the same quarter last year. Equities analysts expect that PACCAR will post 7.57 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. State Street Corp lifted its position in shares of PACCAR by 1.0% during the second quarter. State Street Corp now owns 22,534,596 shares of the company’s stock valued at $2,142,139,000 after buying an additional 218,188 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PACCAR by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after acquiring an additional 159,632 shares in the last quarter. Capital Research Global Investors raised its stake in shares of PACCAR by 20.3% during the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after acquiring an additional 1,009,134 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in PACCAR by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after acquiring an additional 1,165,443 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Key Stories Impacting PACCAR

Here are the key news stories impacting PACCAR this week:

PACCAR Company Profile

(Get Free Report)

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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