PACCAR (NASDAQ:PCAR) Given New $105.00 Price Target at Citigroup

PACCAR (NASDAQ:PCAR) had its price target cut by Citigroup from $112.00 to $105.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 8.16% from the company’s current price.

Other equities analysts have also issued research reports about the stock. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Melius Research set a $120.00 target price on PACCAR in a research note on Tuesday, March 18th. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Truist Financial lifted their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.54.

PACCAR Price Performance

Shares of PCAR stock traded up $0.17 during trading hours on Monday, reaching $97.08. The stock had a trading volume of 780,750 shares, compared to its average volume of 2,643,606. The stock’s fifty day simple moving average is $105.19 and its 200 day simple moving average is $106.72. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $50.96 billion, a PE ratio of 12.27, a PEG ratio of 2.77 and a beta of 0.91. PACCAR has a 12 month low of $90.04 and a 12 month high of $124.39.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts predict that PACCAR will post 7.57 EPS for the current year.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last ninety days. 2.02% of the stock is currently owned by insiders.

Institutional Trading of PACCAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Meeder Asset Management Inc. lifted its stake in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR during the 4th quarter worth $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR in the 4th quarter valued at approximately $37,000. Sunbelt Securities Inc. grew its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after buying an additional 350 shares during the period. Finally, OFI Invest Asset Management purchased a new position in PACCAR during the fourth quarter worth $43,000. Hedge funds and other institutional investors 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.