Citigroup Cuts PACCAR (NASDAQ:PCAR) Price Target to $95.00

PACCAR (NASDAQ:PCAR) had its price target decreased by research analysts at Citigroup from $105.00 to $95.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 1.14% from the company’s current price.

Other analysts have also issued research reports about the company. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and dropped their price target for the company from $108.00 to $78.00 in a research report on Monday. Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.46.

PACCAR Stock Up 8.7 %

PCAR opened at $93.93 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $101.69 and its 200-day moving average price is $106.28. The company has a market cap of $49.31 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR has a 12 month low of $85.10 and a 12 month high of $121.75.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results 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 net margin of 12.36% and a return on equity of 23.53%. On average, equities analysts expect that PACCAR will post 7.57 EPS for the current year.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock worth $18,261,908 in the last three months. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. Principal Financial Group Inc. grew its stake in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of PACCAR by 3.0% during the third quarter. Janus Henderson Group PLC now owns 65,511 shares of the company’s stock valued at $6,464,000 after purchasing an additional 1,900 shares in the last quarter. IHT Wealth Management LLC bought a new position in shares of PACCAR in the 3rd quarter worth $297,000. Morse Asset Management Inc purchased a new stake in shares of PACCAR during the third quarter valued at about $370,000. Finally, Stifel Financial Corp lifted its position in PACCAR by 6.4% during the third quarter. Stifel Financial Corp now owns 211,861 shares of the company’s stock valued at $20,906,000 after acquiring an additional 12,807 shares during the last quarter. 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.