Caterpillar (CAT) Coverage Initiated at Oppenheimer
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.
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.
See Also: Earnings Per Share (EPS) Explained
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.