Citigroup Issues Pessimistic Forecast for PACCAR (NASDAQ:PCAR) Stock Price

PACCAR (NASDAQ:PCAR) had its target price dropped by equities research analysts at Citigroup from $140.00 to $115.00 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 6.35% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada raised PACCAR from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $130.00 to $150.00 in a research note on Thursday, September 10th. Morgan Stanley set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Friday, September 4th. Truist Financial set a $125.00 target price on shares of PACCAR and gave the stock a “hold” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $164.00 to $142.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Evercore upped their price target on shares of PACCAR from $139.00 to $162.00 and gave the company an “outperform” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, PACCAR has an average rating of “Hold” and an average price target of $131.50.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded up $0.09 during trading on Monday, reaching $108.13. 2,145,895 shares of the company traded hands, compared to its average volume of 3,197,938. The firm has a market capitalization of $56.92 billion, a PE ratio of 22.72, a PEG ratio of 1.24 and a beta of 0.98. PACCAR has a 52 week low of $92.25 and a 52 week high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $121.95 and its two-hundred day moving average is $120.71.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. As a group, sell-side analysts predict that PACCAR will post 5.91 earnings per share for the current year.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 1,970 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the transaction, the chief financial officer directly owned 1,391 shares of the company’s stock, valued at $184,307.50. This represents a 58.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by insiders.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently bought and sold shares of the company. Compass Financial Management LLC bought a new stake in shares of PACCAR in the second quarter valued at approximately $28,000. Paladin Partners LLC purchased a new stake in shares of PACCAR during the 2nd quarter valued at approximately $27,000. Fiduciary Financial Advisors bought a new position in PACCAR in the 2nd quarter worth approximately $28,000. Continuum Advisory LLC bought a new position in PACCAR in the 2nd quarter worth approximately $29,000. Finally, Steph & Co. purchased a new position in PACCAR in the 1st quarter valued at approximately $29,000. 64.90% of the stock is owned by institutional investors.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of heavy-duty trucks and related transportation products. The company designs, develops and markets trucks under the Kenworth, Peterbilt and DAF brands, serving the long-haul, construction, vocational and distribution markets.

In addition to complete trucks, PACCAR provides diesel and electric powertrains, engines, parts and related aftermarket services. Its PACCAR Parts business distributes replacement parts and accessories through a network of distribution centers and dealerships, while PACCAR Financial offers retail and wholesale financing and leasing services to customers and dealers.

Founded in 1905, PACCAR has grown from a regional equipment manufacturer into an international transportation company.