Caterpillar Sees Unusually Large Options Volume (CAT)
Shares of Caterpillar (NYSE:CAT) was the target of some unusual options trading on Friday. Investors purchased 24,702 put options on the company, American Banking and Market News reports. This is an increase of approximately 162% compared to the average volume of 9,414 put options.
CAT has been the subject of a number of recent research reports. Analysts at Robert W. Baird downgraded shares of Caterpillar (NYSE:CAT) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. They now have a $90.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Caterpillar (NYSE:CAT) in a research note to investors on Tuesday, September 10th. Finally, 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.
Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Caterpillar has a consensus rating of “Hold” and a consensus price target of $92.89.
Shares of Caterpillar (NYSE:CAT) traded down 0.08% on Monday, hitting $84.68. 1,304,110 shares of the company’s stock traded hands. Caterpillar has a 1-year low of $79.49 and a 1-year high of $99.70. The stock’s 50-day moving average is $84.68 and its 200-day moving average is $85.31. The company has a market cap of $54.840 billion and a price-to-earnings ratio of 13.37.
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. Analysts expect that Caterpillar will post $6.29 EPS for the current fiscal year.
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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