Citigroup Boosts PACCAR (NASDAQ:PCAR) Price Target to $100.00

PACCAR (NASDAQ:PCAR) had its price objective upped by analysts at Citigroup from $95.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 6.22% from the stock’s current price.

A number of other analysts have also commented on PCAR. Royal Bank Of Canada reduced their price objective on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a research report on Wednesday, April 16th. UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.59.

PACCAR Price Performance

PCAR stock opened at $94.14 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR has a one year low of $84.65 and a one year high of $118.81. The firm has a market capitalization of $49.42 billion, a PE ratio of 14.26, a P/E/G ratio of 3.48 and a beta of 0.95. The firm has a 50-day moving average of $92.43 and a two-hundred day moving average of $100.01.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the prior year, the company posted $2.27 earnings per share. PACCAR’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, analysts forecast that PACCAR will post 7.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the period. Private Advisor Group LLC grew its position in PACCAR by 6.3% in the 4th quarter. Private Advisor Group LLC now owns 27,755 shares of the company’s stock worth $2,887,000 after purchasing an additional 1,637 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in PACCAR by 116.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,559 shares of the company’s stock worth $1,618,000 after purchasing an additional 8,368 shares during the last quarter. IFP Advisors Inc lifted its position in PACCAR by 18.3% in the fourth quarter. IFP Advisors Inc now owns 952 shares of the company’s stock worth $99,000 after purchasing an additional 147 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in PACCAR by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock worth $364,690,000 after purchasing an additional 61,457 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.