PACCAR (NASDAQ:PCAR) Price target reduced to $88.00
PACCAR (NASDAQ:PCAR – Get an appraisal) had its price target lowered by Citigroup equity researchers from $91.00 to $88.00 in a report on Thursday, reports The Fly. Citigroup’s price target would suggest a potential upside of 7.33% from the current share price.
A number of other brokerages also weighed in on PCAR. Cowen lowered his price target on PACCAR from $100.00 to $92.00 in a report Thursday. Morgan Stanley cut its price target on PACCAR shares from $98.00 to $90.00 and set an “equal weight” rating for the company in a Monday, April 18 report. Deutsche Bank Aktiengesellschaft lowered its price target on PACCAR shares from $100.00 to $96.00 and placed a “hold” rating on the stock in a Thursday, April 14 report. StockNews.com moved PACCAR shares from a “hold” rating to a “buy” rating in a Monday, May 2 report. Finally, JPMorgan Chase & Co. cut its price target on PACCAR from $114.00 to $108.00 and set an “overweight” rating on the stock in a Monday, March 28 research note. One equity research analyst gave the stock a sell rating, five issued a hold rating, six issued a buy rating and one issued a strong buy rating for the stock. society. According to data from MarketBeat.com, the stock has a “moderate buy” consensus rating and an average target price of $97.62.
NASDAQ: PCAR traded down $0.67 in Thursday’s midday session, hitting $81.99. 12,158 shares of the company were traded, with an average volume of 1,633,286. PACCAR has a fifty-two week low of $77.96 and a fifty-two week high of $97.56. The company has a market capitalization of $28.51 billion, a PE ratio of 14.43, a growth price-earnings ratio of 1.14 and a beta of 0.87. The company has a current ratio of 2.47, a quick ratio of 2.22 and a debt ratio of 0.58. The company has a fifty-day simple moving average of $84.28 and a 200-day simple moving average of $87.69.
PACCAR (NASDAQ:PCAR – Get Rating) last reported results on Tuesday, April 26. The company reported earnings per share of $1.72 for the quarter, beating the consensus estimate of $1.51 by $0.21. The company posted revenue of $6.11 billion in the quarter, versus a consensus estimate of $5.86 billion. PACCAR had a return on equity of 17.20% and a net margin of 8.21%. The company’s quarterly revenue increased 12.8% year over year. During the same period of the previous year, the company achieved EPS of $1.35. As a group, equity research analysts expect PACCAR to post EPS of 7.2 for the current year.
Several large investors have recently bought and sold shares of the company. Paragon Capital Management Ltd bought a new position in PACCAR shares during the fourth quarter valued at approximately $26,000. Exchange Traded Concepts LLC purchased a new position in PACCAR stock during Q4 for $28,000. Disciplined Investments LLC increased its holdings of PACCAR stock by 280.0% in the first quarter. Disciplined Investments LLC now owns 323 shares of the company worth $28,000 after buying 238 additional shares in the last quarter. Trust Co. of Vermont purchased a new equity stake in PACCAR in the fourth quarter for $30,000. Finally, Riverview Trust Co acquired a new equity stake in PACCAR in the first quarter worth approximately $30,000. 63.56% of the shares are held by institutional investors and hedge funds.
About PACCAR (Get a rating)
PACCAR Inc designs, manufactures and distributes light, medium and heavy commercial trucks in the United States, Europe, Mexico, South America, Australia and internationally. It operates through three segments: trucks, parts and financial services. The Truck segment designs, manufactures and distributes trucks for on-road and off-road transportation of commercial and consumer goods.
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