Citigroup Increases PACCAR (NASDAQ:PCAR) Price Target to $140.00

Key Points

• Citigroup raised its PACCAR price target from $125 to $140 while maintaining a “neutral” rating, implying approximately 4.5% upside from the reported share price.
• PACCAR’s analyst consensus remains “Hold,” with three Buy ratings and eleven Hold ratings and an average price target of $131.70.
• PACCAR reported quarterly earnings of $1.43 per share, exceeding estimates of $1.36, while revenue reached $7.55 billion versus expectations of $7.05 billion.

PACCAR (NASDAQ:PCAR - Get Free Report) had its target price increased by equities research analysts at Citigroup from $125.00 to $140.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective suggests a potential upside of 4.50% from the stock's current price.

Several other analysts have also issued reports on PCAR. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Morgan Stanley set a $119.00 target price on PACCAR in a research report on Wednesday. Truist Financial raised their price target on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Weiss Ratings lowered PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $148.00 price objective on shares of PACCAR in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, PACCAR presently has a consensus rating of "Hold" and an average price target of $131.70.

PACCAR Stock Up 0.1%

PCAR stock traded up $0.10 during midday trading on Thursday, reaching $133.97. The company had a trading volume of 2,194,222 shares, compared to its average volume of 3,164,074. PACCAR has a 1 year low of $92.25 and a 1 year high of $139.24. The company has a current ratio of 1.82, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $70.51 billion, a P/E ratio of 28.20, a PEG ratio of 1.27 and a beta of 0.97. The company has a 50 day moving average of $120.46 and a two-hundred day moving average of $120.68.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.05 billion. During the same period in the previous year, the company posted $1.37 EPS. PACCAR's revenue was up .5% on a year-over-year basis. On average, equities research analysts expect that PACCAR will post 5.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ares Financial Consulting LLC acquired a new stake in PACCAR in the 4th quarter worth approximately $27,000. MCF Advisors LLC raised its position in shares of PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock valued at $28,000 after purchasing an additional 92 shares during the period. Steph & Co. bought a new position in shares of PACCAR in the first quarter valued at approximately $29,000. Elyxium Wealth LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of PACCAR in the third quarter worth $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.

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