Caterpillar Inc. (CAT) Receives “Buy” Rating from Credit Suisse Group AG
Caterpillar Inc. (NYSE:CAT)‘s stock had its “buy” rating reaffirmed by stock analysts at Credit Suisse Group AG in a research note issued on Thursday.
Other equities research analysts have also issued research reports about the stock. Vetr lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating and set a $80.77 price objective on the stock. in a research note on Tuesday, May 31st. TheStreet upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Deutsche Bank AG assumed coverage on shares of Caterpillar in a research note on Tuesday, September 6th. They issued a “buy” rating and a $72.56 target price on the stock. Morgan Stanley reiterated a “hold” rating and issued a $67.00 target price on shares of Caterpillar in a research note on Thursday, July 28th. Finally, Jefferies Group upped their target price on shares of Caterpillar from $69.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $72.24.
Caterpillar (NYSE:CAT) traded up 0.1367% on Thursday, reaching $83.5841. 2,172,313 shares of the company were exchanged. Caterpillar has a 12-month low of $56.36 and a 12-month high of $84.73. The firm has a 50-day moving average of $82.66 and a 200 day moving average of $77.52. The firm has a market capitalization of $48.83 billion, a P/E ratio of 55.7227 and a beta of 1.64.
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-receives-buy-rating-from-credit-suisse-group-ag-2.html
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Caterpillar’s quarterly revenue was down 16.0% on a year-over-year basis. On average, equities analysts predict that Caterpillar will post $3.50 earnings per share for the current year.
In other news, Director Dennis A. Muilenburg bought 1,930 shares of the stock in a transaction dated Friday, July 29th. The stock was purchased at an average price of $82.75 per share, for a total transaction of $159,707.50. Following the acquisition, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Caterpillar by 306.4% in the second quarter. FMR LLC now owns 8,698,110 shares of the company’s stock valued at $659,404,000 after buying an additional 6,557,618 shares during the period. BlackRock Fund Advisors raised its stake in Caterpillar by 51.2% in the first quarter. BlackRock Fund Advisors now owns 9,829,850 shares of the company’s stock valued at $752,377,000 after buying an additional 3,327,684 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Caterpillar during the second quarter valued at about $77,081,000. State of New Jersey Common Pension Fund D raised its stake in Caterpillar by 640.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock valued at $75,810,000 after buying an additional 865,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in Caterpillar by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,404,617 shares of the company’s stock valued at $2,684,024,000 after buying an additional 832,572 shares during the period. Hedge funds and other institutional investors own 69.03% of the company’s stock.
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.