PACCAR (NASDAQ:PCAR) Price Target Raised to $100.00

PACCAR (NASDAQ:PCAR) had its target price increased by Citigroup from $95.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 7.41% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Melius Research set a $120.00 target price on PACCAR in a research note on Tuesday, March 18th. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $104.59.

PACCAR Trading Up 1.5%

PCAR stock traded up $1.36 during trading on Tuesday, reaching $93.11. The company had a trading volume of 782,085 shares, compared to its average volume of 2,743,952. The business has a 50 day moving average of $92.17 and a 200 day moving average of $100.09. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. The company has a market cap of $48.88 billion, a P/E ratio of 14.10, a PEG ratio of 3.36 and a beta of 0.95. PACCAR has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business’s quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. As a group, sell-side analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Several large investors have recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after buying an additional 193 shares during the period. Alpine Bank Wealth Management bought a new stake in PACCAR in the first quarter worth $29,000. Sunbelt Securities Inc. increased its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its stake in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. 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.