Caterpillar Target of Unusually Large Options Trading (CAT)
Shares of Caterpillar (NYSE:CAT) were the target of some unusual options trading on Thursday. Investors bought 15,743 put options on the stock, American Banking and Market News reports. This is an increase of approximately 107% compared to the average volume of 7,596 put options.
A number of analysts have recently weighed in on CAT shares. Analysts at Zacks reiterated an “outperform” rating on shares of Caterpillar in a research note on Tuesday, August 26th. They now have a $130.00 price target on the stock. Separately, 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. Finally, analysts at Tigress Financial upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $102.11.
Shares of Caterpillar (NYSE:CAT) traded up 0.33% during mid-day trading on Thursday, hitting $108.82. 4,604,030 shares of the company’s stock traded hands. Caterpillar has a one year low of $81.87 and a one year high of $111.46. The stock has a 50-day moving average of $106.1 and a 200-day moving average of $103.8. The company has a market cap of $68.322 billion and a price-to-earnings ratio of 18.10.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.69 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.45 earnings per share. Caterpillar’s revenue was down 3.2% compared to the same quarter last year. Analysts expect that Caterpillar will post $6.28 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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