Citigroup Raises PACCAR (NASDAQ:PCAR) Price Target to $125.00

PACCAR (NASDAQ:PCAR) had its price objective lifted by analysts at Citigroup from $120.00 to $125.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 7.87% from the stock’s previous close.

A number of other research firms also recently commented on PCAR. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Morgan Stanley dropped their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and increased their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th. BNP Paribas raised shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $118.25.

PACCAR Trading Down 1.5 %

PCAR stock traded down $1.74 during trading on Monday, hitting $115.88. The company had a trading volume of 1,916,392 shares, compared to its average volume of 1,914,353. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $109.50 and a 200-day moving average price of $103.66. PACCAR has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market cap of $60.76 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.82 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 EPS. As a group, analysts predict that PACCAR will post 7.98 earnings per share for the current year.

Insider Activity

In other news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Several hedge funds and other institutional investors have recently modified their holdings of PCAR. Synovus Financial Corp boosted its stake in shares of PACCAR by 16.6% in the 3rd quarter. Synovus Financial Corp now owns 8,899 shares of the company’s stock valued at $878,000 after purchasing an additional 1,267 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in PACCAR during the 3rd quarter valued at about $269,000. World Investment Advisors LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at about $419,000. Sanctuary Advisors LLC grew its position in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after buying an additional 5,871 shares during the period. Finally, McIlrath & Eck LLC boosted its position in shares of PACCAR by 16.0% in the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock worth $2,769,000 after purchasing an additional 3,878 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

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.