PACCAR (NASDAQ:PCAR) Price Target Increased to $108.00 by Analysts at Citigroup

PACCAR (NASDAQ:PCAR) had its price objective boosted by research analysts at Citigroup from $100.00 to $108.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 4.08% from the stock’s current price.

Several other research analysts have also issued reports on the company. Evercore ISI lowered their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Raymond James assumed coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus target price of $113.09.

PACCAR Trading Up 0.9 %

PACCAR stock traded up $0.97 during trading hours on Wednesday, hitting $103.77. The stock had a trading volume of 1,781,171 shares, compared to its average volume of 2,613,458. The business’s 50 day simple moving average is $96.14 and its 200-day simple moving average is $104.53. PACCAR has a one year low of $80.94 and a one year high of $125.50. The stock has a market cap of $54.39 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts predict that PACCAR will post 8.08 EPS for the current fiscal year.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PCAR. Quarry LP bought a new position in shares of PACCAR during the 2nd quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new stake in shares of PACCAR during the first quarter valued at approximately $27,000. Riverview Trust Co bought a new stake in PACCAR during the first quarter worth $29,000. Meeder Asset Management Inc. boosted its position in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in PACCAR in the 1st quarter valued at $31,000. 64.90% of the stock is owned by institutional investors.

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.