Robert W. Baird Downgrades Caterpillar to Neutral (CAT)
Caterpillar (NYSE:CAT) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $90.00 target price on the stock. Robert W. Baird’s price target would indicate a potential upside of 3.37% from the stock’s previous close.
Shares of Caterpillar (NYSE:CAT) opened at 87.07 on Wednesday. Caterpillar has a one year low of $79.49 and a one year high of $99.70. The stock has a 50-day moving average of $84.36 and a 200-day moving average of $85.35. The company has a market cap of $56.388 billion and a price-to-earnings ratio of 13.73.
Caterpillar (NYSE:CAT) last released its earnings data on Wednesday, July 24th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by $0.26. The company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $15.03 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, analysts predict that Caterpillar will post $6.30 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CAT. Analysts at TheStreet reiterated a “buy” rating on shares of Caterpillar (NYSE:CAT) in a research note to investors on Tuesday, September 10th. Separately, analysts at Thomson Reuters/Verus downgraded shares of Caterpillar (NYSE:CAT) from a “hold” rating to a “sell” rating in a research note to investors on Monday, September 9th. Finally, analysts at Morgan Stanley initiated coverage on shares of Caterpillar (NYSE:CAT) in a research note to investors on Thursday, September 5th. They set an “equal weight” rating and a $89.00 price target on the stock.
Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $92.89.
Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
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