PACCAR (NASDAQ:PCAR) Given New $100.00 Price Target at Citigroup

PACCAR (NASDAQ:PCAR - Get Free Report) had its price objective upped by equities research analysts at Citigroup from $95.00 to $100.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective would suggest a potential upside of 7.41% from the stock's current price.

A number of other equities research analysts also recently weighed in on PCAR. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a report on Wednesday, April 16th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and cut their target price for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $104.59.

PACCAR Stock Up 1.5%

Shares of PACCAR stock traded up $1.36 on Tuesday, reaching $93.11. 782,085 shares of the company were exchanged, compared to its average volume of 2,743,952. PACCAR has a one year low of $84.65 and a one year high of $118.81. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $92.17 and a 200 day moving average of $100.09. The company has a market capitalization of $48.88 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 3.36 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business's revenue was down 16.0% on a year-over-year basis. During the same period last year, the business earned $2.27 EPS. On average, equities research analysts forecast that PACCAR will post 7.57 earnings per share for the current year.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Several hedge funds have recently made changes to their positions in PCAR. Brighton Jones LLC boosted its position in shares of PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after acquiring an additional 290 shares during the period. Private Advisor Group LLC raised its stake in shares of PACCAR by 6.3% during the fourth quarter. Private Advisor Group LLC now owns 27,755 shares of the company's stock worth $2,887,000 after acquiring an additional 1,637 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of PACCAR by 116.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,559 shares of the company's stock valued at $1,618,000 after purchasing an additional 8,368 shares during the last quarter. IFP Advisors Inc lifted its stake in PACCAR by 18.3% in the fourth quarter. IFP Advisors Inc now owns 952 shares of the company's stock worth $99,000 after purchasing an additional 147 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in PACCAR by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock valued at $364,690,000 after buying an additional 61,457 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

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