PACCAR (NASDAQ:PCAR) PT Raised to $108.00 at Citigroup

PACCAR (NASDAQ:PCAR) had its price target boosted by Citigroup from $100.00 to $108.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on PCAR. Evercore ISI dropped their target price on shares of PACCAR from $109.00 to $99.00 and set an in-line rating on the stock in a research report on Monday, August 19th. Raymond James initiated coverage on shares of PACCAR in a research report on Friday, June 28th. They set a market perform rating on the stock. JPMorgan Chase & Co. decreased their target price on PACCAR from $135.00 to $115.00 and set an overweight rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a hold rating to a buy rating in a report on Wednesday, July 24th. Finally, Truist Financial decreased their price objective on PACCAR from $107.00 to $103.00 and set a hold rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PACCAR has a consensus rating of Hold and a consensus target price of $114.00.

PACCAR Stock Performance

Shares of PCAR opened at $106.80 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $96.64 and its two-hundred day simple moving average is $104.27. PACCAR has a 12 month low of $80.94 and a 12 month high of $125.50. The stock has a market capitalization of $55.99 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 EPS. As a group, analysts predict that PACCAR will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio is 12.71%.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in PACCAR during the second quarter worth $26,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR during the 1st quarter worth $27,000. Riverview Trust Co purchased a new position in shares of PACCAR in the 1st quarter worth about $29,000. Meeder Asset Management Inc. increased its holdings in PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in PACCAR in the first quarter worth about $31,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.