Caterpillar (NYSE:CAT) Rating Lowered to Buy at StockNews.com

Posted by on Jun 25th, 2023

Caterpillar (NYSE:CAT – Get Rating) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts also recently commented on CAT. Evercore ISI cut their target price on shares of Caterpillar from $288.00 to $263.00 in a research note on Tuesday, May 9th. Robert W. Baird dropped their price target on shares of Caterpillar from $185.00 to $180.00 in a research note on Monday, May 8th. Tigress Financial raised their price objective on shares of Caterpillar from $266.00 to $282.00 in a report on Wednesday, May 31st. Stifel Nicolaus lifted their price target on shares of Caterpillar from $273.00 to $275.00 in a report on Monday, May 1st. Finally, Bank of America boosted their target price on shares of Caterpillar from $250.00 to $283.00 in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $240.42.

Caterpillar Trading Down 1.2 %

NYSE CAT opened at $234.44 on Friday. The stock has a market capitalization of $120.82 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.15 and a beta of 1.09. Caterpillar has a 52-week low of $160.60 and a 52-week high of $266.04. The firm has a 50-day moving average price of $221.98 and a 200 day moving average price of $232.57. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 1.37.

Caterpillar (NYSE:CAT – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $4.91 EPS for the quarter, beating the consensus estimate of $3.79 by $1.12. Caterpillar had a net margin of 11.52% and a return on equity of 50.98%. The business had revenue of $15.86 billion for the quarter, compared to analyst estimates of $15.27 billion. During the same period in the prior year, the business earned $2.88 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities research analysts expect that Caterpillar will post 17.72 EPS for the current year.

Hedge Funds Weigh In On Caterpillar

A number of large investors have recently modified their holdings of CAT. BCK Partners Inc. bought a new stake in Caterpillar in the 1st quarter worth approximately $2,580,000. Sei Investments Co. boosted its holdings in Caterpillar by 17.3% in the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock worth $14,634,000 after acquiring an additional 9,695 shares in the last quarter. Dakota Wealth Management bought a new position in shares of Caterpillar during the first quarter valued at $405,000. Mather Group LLC. lifted its holdings in shares of Caterpillar by 6.8% during the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Caterpillar by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after acquiring an additional 2,076 shares during the period. 74.28% of the stock is currently owned by institutional investors.

About Caterpillar

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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.

Further Reading

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