PACCAR (NASDAQ:PCAR) Price Target Raised to $130.00 at Citigroup

PACCAR (NASDAQ:PCAR) had its target price upped by research analysts at Citigroup from $125.00 to $130.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 3.08% from the stock’s current price.

PCAR has been the topic of a number of other research reports. Wells Fargo & Company set a $119.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. Truist Financial upped their price objective on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $117.42.

PACCAR Stock Down 0.8%

Shares of PACCAR stock traded down $1.07 during trading hours on Monday, reaching $126.12. 522,827 shares of the company were exchanged, compared to its average volume of 3,107,691. PACCAR has a 1 year low of $84.65 and a 1 year high of $131.88. The stock’s fifty day moving average is $121.53 and its 200 day moving average is $111.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The firm has a market cap of $66.37 billion, a PE ratio of 27.95, a PEG ratio of 1.07 and a beta of 1.06.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the company earned $1.66 earnings per share. The company’s revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts forecast that PACCAR will post 7.57 earnings per share for the current year.

Insider Activity

In related news, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the transaction, the chief financial officer owned 903 shares in the company, valued at approximately $117,760.23. The trade was a 70.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the transaction, the vice president owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. The trade was a 66.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 133,105 shares of company stock valued at $16,869,046. Insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently modified their holdings of the company. Deseret Mutual Benefit Administrators boosted its stake in PACCAR by 9.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after acquiring an additional 80 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of PACCAR by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after purchasing an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC grew its holdings in shares of PACCAR by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after purchasing an additional 87 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of PACCAR by 3.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock worth $317,000 after purchasing an additional 87 shares during the last quarter. Finally, Jackson Square Capital LLC grew its holdings in shares of PACCAR by 3.5% during the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.