Caterpillar Receives Consensus Rating of “Hold” from Analysts (NYSE:CAT)
Shares of Caterpillar (NYSE:CAT) have earned a consensus recommendation of “Hold” from the twenty-five analysts that are covering the company, AmericanBankingNews.com reports. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $100.47.
A number of research firms have recently commented on CAT. Analysts at ISI Group upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $113.00 price target on the stock, up previously from $110.00. Separately, analysts at Tigress Financial upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. Finally, analysts at Raymond James reiterated a “market perform” rating on shares of Caterpillar in a research note on Friday, July 25th. They now have a $110.00 price target on the stock, up previously from $105.00.
In other Caterpillar news, Insider Edward J. Rapp unloaded 15,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $101.01, for a total value of $1,515,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Caterpillar (NYSE:CAT) traded up 0.70% during mid-day trading on Wednesday, hitting $105.06. 708,174 shares of the company’s stock traded hands. Caterpillar has a one year low of $81.46 and a one year high of $111.46. The stock’s 50-day moving average is $106.9 and its 200-day moving average is $102.3. The company has a market cap of $65.962 billion and a P/E ratio of 17.41. Caterpillar also was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 37,762,005 shares, an increase of 96.7% from the July 15th total of 19,199,823 shares. Approximately 6.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,734,802 shares, the short-interest ratio is currently 8.0 days.
Caterpillar (NYSE:CAT) last released its earnings data on Thursday, July 24th. The company reported $1.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.52 by $0.17. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.46 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts predict that Caterpillar will post $6.28 earnings per share 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.
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.