Caterpillar (NYSE:CAT) Price Target Increased to $245.00 by Analysts at Sanford C. Bernstein
Caterpillar (NYSE:CAT – Get Free Report) had its target price raised by stock analysts at Sanford C. Bernstein from $216.00 to $245.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the industrial products company’s stock. Sanford C. Bernstein’s target price would suggest a potential downside of 14.97% from the company’s previous close.
A number of other research analysts have also commented on CAT. Bank of America lowered their price objective on shares of Caterpillar from $323.00 to $297.00 in a research note on Wednesday, October 11th. Stifel Nicolaus raised their price objective on shares of Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a research note on Tuesday. Tigress Financial raised their price objective on shares of Caterpillar from $282.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. The Goldman Sachs Group lowered their price objective on shares of Caterpillar from $315.00 to $274.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $315.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus target price of $269.78.
View Our Latest Stock Report on CAT
Caterpillar Stock Performance
Shares of NYSE:CAT traded down $1.57 during trading hours on Thursday, hitting $288.14. The stock had a trading volume of 2,153,295 shares, compared to its average volume of 3,073,593. The stock’s fifty day simple moving average is $253.45 and its 200 day simple moving average is $260.35. Caterpillar has a 1-year low of $204.04 and a 1-year high of $298.27. The firm has a market capitalization of $146.69 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.06 and a beta of 1.09. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.92 and a current ratio of 1.45.
Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $5.52 EPS for the quarter, beating the consensus estimate of $4.75 by $0.77. Caterpillar had a net margin of 13.69% and a return on equity of 56.29%. The company had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.57 billion. During the same quarter last year, the business earned $3.95 earnings per share. Caterpillar’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar will post 20.58 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Caterpillar
Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its holdings in Caterpillar by 0.9% in the 2nd quarter. Cetera Investment Advisers now owns 70,597 shares of the industrial products company’s stock worth $17,370,000 after acquiring an additional 638 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Caterpillar by 35.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 16,707 shares of the industrial products company’s stock worth $4,111,000 after purchasing an additional 4,370 shares during the period. PDS Planning Inc increased its holdings in shares of Caterpillar by 5.7% during the 2nd quarter. PDS Planning Inc now owns 2,204 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 119 shares during the period. Foundations Investment Advisors LLC increased its holdings in shares of Caterpillar by 9.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 5,153 shares of the industrial products company’s stock worth $1,268,000 after purchasing an additional 432 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Caterpillar by 36.8% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 14,773 shares of the industrial products company’s stock worth $3,635,000 after purchasing an additional 3,974 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.
About Caterpillar (Get Free Report)
Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, tractors, excavators, telehandlers, motor graders, and pipelayers; compact track and multi-terrain, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
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