PACCAR (NASDAQ:PCAR) Given New $140.00 Price Target at Citigroup

PACCAR (NASDAQ:PCAR) had its price target increased by research analysts at Citigroup from $125.00 to $140.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage 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.

A number of other research analysts have also commented on PCAR. Sanford C. Bernstein reiterated an “outperform” rating and set a $148.00 price target on shares of PACCAR in a report on Wednesday. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and an average price target of $131.70.

PACCAR Stock Performance

Shares of PACCAR stock traded up $0.10 during trading on Thursday, reaching $133.97. The company’s stock had a trading volume of 2,194,222 shares, compared to its average volume of 3,164,074. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 1.82. The business’s fifty day moving average price is $120.46 and its 200-day moving average price is $120.68. The firm has a market cap of $70.51 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97. PACCAR has a one year low of $92.25 and a one year high of $139.24.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts predict that PACCAR will post 5.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PCAR. Vanguard Group Inc. boosted its holdings in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after buying an additional 3,597,283 shares in the last quarter. State Street Corp lifted its position in shares of PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares during the period. Geode Capital Management LLC lifted its position in shares of PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares during the period. Finally, Norges Bank bought a new position in shares of PACCAR during the 4th quarter worth approximately $727,745,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

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.