PACCAR (NASDAQ:PCAR) Given New $130.00 Price Target at Citigroup

PACCAR (NASDAQ:PCAR) had its price target upped by Citigroup from $125.00 to $130.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

PCAR has been the subject of several other research reports. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Truist Financial boosted their price objective on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $117.42.

PACCAR Stock Performance

PCAR opened at $127.38 on Monday. The company has a market cap of $67.03 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. The stock has a 50-day moving average of $121.59 and a 200-day moving average of $111.99. PACCAR has a 52-week low of $84.65 and a 52-week high of $131.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 EPS. As a group, equities research analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 12,183 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the completion of the transaction, the vice president owned 6,274 shares of the company’s stock, valued at $768,125.82. This represents a 66.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president directly owned 34,656 shares of the company’s stock, valued at approximately $4,433,195.52. This trade represents a 69.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 133,105 shares of company stock worth $16,869,046 in the last ninety days. 1.99% of the stock is owned by insiders.

Hedge Funds Weigh In On PACCAR

Large investors have recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new position in PACCAR in the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC raised its holdings in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. MCF Advisors LLC raised its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares in the last quarter. Elyxium Wealth LLC acquired a new position in PACCAR in the 4th quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in PACCAR in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.