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

PACCAR (NASDAQ:PCAR) had its price objective decreased by investment analysts at Citigroup from $112.00 to $105.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 8.16% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $117.54.

PACCAR Trading Up 0.2 %

Shares of PCAR traded up $0.17 during mid-day trading on Monday, reaching $97.08. The company had a trading volume of 780,750 shares, compared to its average volume of 2,643,606. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $124.39. The firm has a fifty day simple moving average of $105.19 and a 200-day simple moving average of $106.72. The stock has a market cap of $50.96 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, sell-side analysts anticipate that PACCAR will post 7.57 EPS for the current fiscal year.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PCAR. Norges Bank purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $526,922,000. Wellington Management Group LLP raised its stake in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after buying an additional 4,219,964 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in shares of PACCAR during the fourth quarter valued at about $254,651,000. Finally, JPMorgan Chase & Co. raised its stake in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Company Profile

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.