PACCAR (NASDAQ:PCAR) Price Target Cut to $115.00 by Analysts at Citigroup

PACCAR (NASDAQ:PCAR) had its price objective reduced by research analysts at Citigroup from $125.00 to $115.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 4.90% from the company’s current price.

A number of other research firms have also issued reports on PCAR. Truist Financial lifted their target price on PACCAR from $107.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $119.96.

PACCAR Stock Down 0.5 %

Shares of NASDAQ:PCAR opened at $109.63 on Tuesday. The firm has a market capitalization of $57.48 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. PACCAR has a 1 year low of $90.04 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm’s 50-day moving average is $111.37 and its two-hundred day moving average is $103.89.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the firm earned $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts predict that PACCAR will post 7.98 EPS for the current year.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. This represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock worth $6,358,552 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in PACCAR during the 2nd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $36,000. Grove Bank & Trust increased its holdings in shares of PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after purchasing an additional 103 shares during the period. Sander Capital Advisors Inc. purchased a new stake in shares of PACCAR during the third quarter worth approximately $50,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of PACCAR during the third quarter worth $52,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

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.