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

PACCAR (NASDAQ:PCAR) had its price objective decreased by analysts at Citigroup from $125.00 to $115.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 4.03% from the company’s previous close.

PCAR has been the topic of several other reports. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday. Truist Financial upped their price target on PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average target price of $119.96.

PACCAR Trading Up 2.2 %

NASDAQ:PCAR traded up $2.39 on Tuesday, reaching $110.55. The company’s stock had a trading volume of 851,988 shares, compared to its average volume of 2,103,597. PACCAR has a 12-month low of $90.04 and a 12-month high of $125.50. The stock has a 50 day moving average price of $111.33 and a 200 day moving average price of $103.84. The firm has a market cap of $57.96 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $7.66 billion. During the same period in the previous year, the firm earned $2.34 EPS. PACCAR’s revenue was down 5.2% on a year-over-year basis. On average, equities analysts anticipate that PACCAR will post 7.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now owns 3,061 shares in the company, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now directly owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PCAR. Quarry LP purchased a new stake in shares of PACCAR in the second quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new position in PACCAR in the 2nd quarter valued at about $36,000. Grove Bank & Trust raised its stake in PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock valued at $46,000 after acquiring an additional 103 shares during the last quarter. Sander Capital Advisors Inc. acquired a new stake in PACCAR during the 3rd quarter worth approximately $50,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of PACCAR in the 3rd quarter valued at approximately $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.