Oppenheimer initiated coverage on shares of Caterpillar (NYSE:CAT) in a research note issued to investors on Friday, September 7th, MarketBeat reports. The brokerage set a “market perform” rating on the industrial products company’s stock. The analysts noted that the move was a valuation call.

CAT has been the subject of a number of other research reports. Bank of America reissued a “hold” rating and set a $163.00 target price on shares of Caterpillar in a research note on Friday, June 15th. Zacks Investment Research cut shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. Deutsche Bank set a $177.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, September 5th. Argus reduced their price objective on shares of Caterpillar from $185.00 to $165.00 and set a “buy” rating for the company in a report on Monday, August 13th. Finally, Goldman Sachs Group cut shares of Caterpillar from a “conviction-buy” rating to a “buy” rating in a report on Monday, July 16th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Caterpillar currently has a consensus rating of “Buy” and an average price target of $172.22.

NYSE:CAT traded down $0.64 on Friday, hitting $144.90. The company had a trading volume of 4,690,514 shares, compared to its average volume of 3,822,185. The company has a market cap of $85.75 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 0.79 and a beta of 1.37. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97. Caterpillar has a 52 week low of $120.31 and a 52 week high of $173.24.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.24. The firm had revenue of $14.01 billion during the quarter, compared to the consensus estimate of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. analysts expect that Caterpillar will post 11.65 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Avestar Capital LLC raised its holdings in Caterpillar by 92.3% in the 2nd quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 477 shares in the last quarter. Lee Financial Co raised its holdings in Caterpillar by 365.1% in the 1st quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 639 shares in the last quarter. Ballew Advisors Inc bought a new position in Caterpillar in the 1st quarter worth $121,000. Stelac Advisory Services LLC bought a new position in Caterpillar in the 1st quarter worth $129,000. Finally, Landaas & Co. WI ADV bought a new position in Caterpillar in the 2nd quarter worth $130,000. Institutional investors own 67.94% of the company’s stock.

Caterpillar Company Profile

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.

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Analyst Recommendations for Caterpillar (NYSE:CAT)

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