Caterpillar (NYSE:CAT) Stock Rating Upgraded by Goldman Sachs Group

Caterpillar (NYSE:CAT) was upgraded by equities researchers at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm currently has a $168.00 target price on the industrial products company’s stock, up from their previous target price of $156.00. Goldman Sachs Group’s price objective points to a potential upside of 21.75% from the stock’s current price.

A number of other equities analysts also recently issued reports on CAT. Morgan Stanley dropped their price objective on shares of Caterpillar from $137.00 to $126.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Citigroup dropped their price objective on shares of Caterpillar from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Standpoint Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Co dropped their price objective on shares of Caterpillar from $160.00 to $150.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, Deutsche Bank raised their price objective on shares of Caterpillar from $123.00 to $147.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $145.47.

Shares of CAT stock opened at $137.99 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $77.22 billion, a PE ratio of 12.63, a P/E/G ratio of 1.71 and a beta of 1.50. The company has a 50 day moving average price of $142.31 and a 200-day moving average price of $134.89. Caterpillar has a 52 week low of $111.75 and a 52 week high of $150.55.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.26. The company had revenue of $13.14 billion for the quarter, compared to the consensus estimate of $13.42 billion. Caterpillar had a net margin of 11.32% and a return on equity of 41.85%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.55 earnings per share. Analysts anticipate that Caterpillar will post 9.34 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Patten & Patten Inc. TN lifted its holdings in shares of Caterpillar by 11.6% during the third quarter. Patten & Patten Inc. TN now owns 2,170 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 225 shares during the period. First Command Financial Services Inc. lifted its holdings in Caterpillar by 2.9% in the third quarter. First Command Financial Services Inc. now owns 2,815 shares of the industrial products company’s stock valued at $356,000 after buying an additional 80 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Caterpillar by 1.6% in the third quarter. CIBC Private Wealth Group LLC now owns 35,795 shares of the industrial products company’s stock valued at $4,521,000 after buying an additional 570 shares during the period. Mainstay Capital Management LLC ADV acquired a new position in Caterpillar in the third quarter valued at $1,456,000. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Caterpillar by 1.9% in the third quarter. Wealthcare Advisory Partners LLC now owns 6,813 shares of the industrial products company’s stock valued at $861,000 after buying an additional 124 shares during the period. 64.93% of the stock is currently owned by institutional investors and hedge funds.

About Caterpillar

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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Analyst Recommendations for Caterpillar (NYSE:CAT)

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