PACCAR (NASDAQ:PCAR) Price Target Raised to $108.00

PACCAR (NASDAQ:PCAR) had its price target increased by investment analysts at Citigroup from $100.00 to $108.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 4.23% from the company’s current price.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, Evercore ISI decreased their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.09.

PACCAR Stock Down 0.1 %

PCAR stock opened at $103.62 on Wednesday. The firm has a 50 day moving average of $96.24 and a 200 day moving average of $104.52. The stock has a market capitalization of $54.31 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business earned $2.33 earnings per share. Sell-side analysts forecast that PACCAR will post 8.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in PACCAR during the second quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in PACCAR during the first quarter worth approximately $27,000. Riverview Trust Co purchased a new position in PACCAR during the first quarter worth approximately $29,000. Meeder Asset Management Inc. increased its stake in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in PACCAR during the first quarter worth $31,000. Hedge funds and other 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.