Credit Suisse Group Reaffirms “Outperform” Rating for Caterpillar (CAT)

Caterpillar (NYSE:CAT)‘s stock had its “outperform” rating reissued by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also issued reports on CAT. Robert W. Baird set a $158.00 price target on Caterpillar and gave the stock a “hold” rating in a report on Tuesday. Seaport Global Securities reissued a “buy” rating and set a $173.00 price target on shares of Caterpillar in a report on Wednesday. UBS set a $178.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Wednesday. Buckingham Research assumed coverage on Caterpillar in a report on Wednesday, April 11th. They set a “buy” rating and a $170.00 price target on the stock. Finally, Wells Fargo set a $180.00 price target on Caterpillar and gave the stock a “buy” rating in a report on Monday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Caterpillar presently has a consensus rating of “Buy” and an average price target of $168.29.

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NYSE CAT opened at $144.80 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35. Caterpillar has a 52-week low of $97.74 and a 52-week high of $173.24. The stock has a market cap of $92,028.40, a P/E ratio of 21.05, a P/E/G ratio of 1.39 and a beta of 1.30.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.71. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.99 billion. During the same quarter last year, the company posted $1.28 earnings per share. The business’s revenue was up 30.9% on a year-over-year basis. analysts predict that Caterpillar will post 9.22 earnings per share for the current fiscal year.

In other news, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the sale, the general counsel now owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas A. Pellette sold 95,199 shares of Caterpillar stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the transaction, the insider now owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of CAT. Jennison Associates LLC raised its position in shares of Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock worth $937,817,000 after purchasing an additional 3,324,051 shares during the last quarter. BlackRock Inc. raised its position in shares of Caterpillar by 6.5% during the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after purchasing an additional 2,297,750 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $148,604,000. CI Investments Inc. raised its position in shares of Caterpillar by 400,906.6% during the 4th quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock worth $104,896,000 after purchasing an additional 665,505 shares during the last quarter. Finally, Fred Alger Management Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $103,179,000. Hedge funds and other institutional investors own 69.23% of the company’s stock.

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About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

Analyst Recommendations for Caterpillar (NYSE:CAT)

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