Citigroup Lowers PACCAR (NASDAQ:PCAR) Price Target to $105.00

PACCAR (NASDAQ:PCAR) had its target price dropped by stock analysts at Citigroup from $112.00 to $105.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 6.83% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Truist Financial increased their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Evercore ISI reduced their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.54.

PACCAR Stock Performance

Shares of PCAR opened at $98.29 on Monday. The company has a market capitalization of $51.60 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR has a one year low of $90.04 and a one year high of $123.20. The company’s fifty day moving average price is $104.69 and its 200 day moving average price is $106.76.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, analysts expect that PACCAR will post 7.57 earnings per share for the current year.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by company insiders.

Institutional Trading of PACCAR

Several large investors have recently made changes to their positions in PCAR. Norges Bank acquired a new position in PACCAR during the 4th quarter worth about $526,922,000. Wellington Management Group LLP lifted its position in shares of PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after purchasing an additional 4,219,964 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $254,651,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Institutional investors 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.