Caterpillar Inc. (CAT) Rating Reiterated by Jefferies Group
Caterpillar Inc. (NYSE:CAT)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Group in a report issued on Thursday. They currently have a $72.00 price objective on the stock. Jefferies Group’s target price would indicate a potential downside of 13.74% from the company’s current price.
Several other analysts have also commented on the stock. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research report on Tuesday, August 30th. Citigroup Inc. set a $82.00 target price on shares of Caterpillar and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Morgan Stanley restated a “hold” rating and set a $67.00 target price on shares of Caterpillar in a research report on Thursday, July 28th. Deutsche Bank AG started coverage on shares of Caterpillar in a research report on Tuesday, September 6th. They set a “buy” rating and a $72.56 target price on the stock. Finally, Credit Suisse Group AG restated a “buy” rating and set a $87.00 target price on shares of Caterpillar in a research report on Wednesday, July 13th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $72.24.
Caterpillar (NYSE:CAT) opened at 83.47 on Thursday. The firm has a market cap of $48.77 billion, a P/E ratio of 55.65 and a beta of 1.64. Caterpillar has a 1-year low of $56.36 and a 1-year high of $84.73. The firm has a 50 day moving average of $82.66 and a 200 day moving average of $77.52.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/caterpillar-inc-cat-rating-reiterated-by-jefferies-group.html
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.96 by $0.13. The business had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 earnings per share. On average, equities research analysts expect that Caterpillar will post $3.50 EPS for the current year.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the transaction, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis A. Muilenburg bought 1,930 shares of Caterpillar stock in a transaction on Friday, July 29th. The shares were purchased at an average cost of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pittenger & Anderson Inc. raised its position in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock worth $100,000 after buying an additional 25 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA raised its position in Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock worth $115,000 after buying an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Caterpillar by 266.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,513 shares of the company’s stock worth $115,000 after buying an additional 1,100 shares during the last quarter. CapWealth Advisors LLC raised its position in Caterpillar by 6.3% in the second quarter. CapWealth Advisors LLC now owns 1,685 shares of the company’s stock worth $128,000 after buying an additional 100 shares during the last quarter. Finally, Archford Capital Strategies LLC raised its position in Caterpillar by 1,424.3% in the second quarter. Archford Capital Strategies LLC now owns 1,692 shares of the company’s stock worth $128,000 after buying an additional 1,581 shares during the last quarter. 69.03% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.