PACCAR (NASDAQ:PCAR) Given New $105.00 Price Target at Citigroup

PACCAR (NASDAQ:PCAR - Get Free Report) had its price objective lowered by Citigroup from $112.00 to $105.00 in a research 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 15.54% from the company's previous close.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Bank of America upgraded shares of 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. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. UBS Group downgraded PACCAR from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Finally, Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Eight 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.54.

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PACCAR Price Performance

Shares of PCAR stock traded down $1.48 on Monday, hitting $90.88. 6,324,667 shares of the company's stock were exchanged, compared to its average volume of 2,671,813. The stock has a market cap of $47.71 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a 50 day moving average of $104.12 and a 200 day moving average of $106.61. PACCAR has a 12 month low of $89.54 and a 12 month high of $123.20.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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 research analysts predict that PACCAR will post 7.57 EPS for the current year.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 in the last quarter. Company insiders own 2.02% of the company's stock.

Institutional Investors Weigh In On PACCAR

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PACCAR by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after acquiring an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. FMR LLC lifted its position in PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after acquiring an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in PACCAR by 8.5% during the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after purchasing an additional 565,967 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.