Share on StockTwits

Research analysts at Jefferies Group raised their target price on shares of Caterpillar (NYSE:CAT) from $85.00 to $95.00 in a report released on Friday, Analyst Ratings News reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price target suggests a potential downside of 9.26% from the company’s current price.

Shares of Caterpillar (NYSE:CAT) opened at 104.69 on Friday. Caterpillar has a 1-year low of $80.86 and a 1-year high of $107.40. The stock’s 50-day moving average is $99.96 and its 200-day moving average is $91.63. The company has a market cap of $66.774 billion and a P/E ratio of 18.31. Caterpillar also was the recipient of a large decrease in short interest during the month of January. As of March 31st, there was short interest totalling 24,940,659 shares, a decrease of 28.0% from the March 14th total of 34,629,924 shares. Based on an average trading volume of 5,773,788 shares, the days-to-cover ratio is currently 4.3 days. Approximately 3.9% of the company’s stock are sold short.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.37. The company had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $13.14 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that Caterpillar will post $5.93 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, May 20th. Shareholders of record on Monday, April 21st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, April 16th.

A number of other analysts have also recently weighed in on CAT. Analysts at Credit Suisse raised their price target on shares of Caterpillar from $103.00 to $117.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Caterpillar in a research note on Tuesday. They now have a $122.00 price target on the stock. Finally, analysts at UBS AG downgraded shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Monday, April 21st. They now have a $6.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $91.68.

Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.