Caterpillar (NYSE:CAT) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, ValuEngine reports.
A number of other research analysts have also recently issued reports on CAT. Goldman Sachs Group reiterated a “buy” rating and issued a $156.00 target price on shares of Caterpillar in a research note on Thursday, July 25th. Bank of America set a $152.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research note on Thursday, April 4th. Morgan Stanley lowered their price target on shares of Caterpillar from $165.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. UBS Group lowered their price target on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating for the company in a report on Tuesday, June 4th. Finally, Robert W. Baird lowered their price target on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $144.23.
Shares of NYSE:CAT traded down $2.25 during trading on Thursday, reaching $124.54. The stock had a trading volume of 5,967,184 shares, compared to its average volume of 3,989,017. Caterpillar has a 52 week low of $112.06 and a 52 week high of $159.37. The firm has a 50-day simple moving average of $134.01. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. The company has a market cap of $75.30 billion, a PE ratio of 11.10, a PEG ratio of 0.94 and a beta of 1.52.
Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The firm had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter last year, the firm posted $2.97 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Caterpillar will post 11.73 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new stake in Caterpillar during the 1st quarter worth $200,000. Tufton Capital Management grew its holdings in Caterpillar by 1.2% during the 1st quarter. Tufton Capital Management now owns 66,628 shares of the industrial products company’s stock worth $9,027,000 after acquiring an additional 787 shares during the period. Atalanta Sosnoff Capital LLC grew its holdings in Caterpillar by 3.6% during the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 120 shares during the period. Physicians Financial Services Inc. grew its holdings in Caterpillar by 11.9% during the 1st quarter. Physicians Financial Services Inc. now owns 17,855 shares of the industrial products company’s stock worth $2,419,000 after acquiring an additional 1,895 shares during the period. Finally, Financial Counselors Inc. grew its holdings in Caterpillar by 11.3% during the 1st quarter. Financial Counselors Inc. now owns 145,766 shares of the industrial products company’s stock worth $19,750,000 after acquiring an additional 14,774 shares during the period. 65.80% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Company Profile
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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