Caterpillar (NYSE:CAT) had its price objective lowered by Stifel Nicolaus from $174.00 to $168.00 in a report released on Tuesday, August 7th, Marketbeat.com reports. The brokerage currently has a hold rating on the industrial products companys stock. Stifel Nicolaus target price suggests a potential upside of 21.55% from the stocks current price.
CAT has been the topic of a number of other reports. Royal Bank of Canada lifted their price objective on shares of Caterpillar to $166.00 and gave the company a sector perform rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Caterpillar from a strong-buy rating to a hold rating in a report on Tuesday, June 26th. Buckingham Research started coverage on shares of Caterpillar in a report on Wednesday, April 11th. They set a buy rating and a $170.00 target price on the stock. BMO Capital Markets reduced their price objective on shares of Caterpillar from $195.00 to $185.00 and set an outperform rating for the company in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an outperform rating on shares of Caterpillar in a research report on Wednesday, April 25th. Twelve equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $170.94.
Caterpillar stock opened at $138.21 on Tuesday. Caterpillar has a fifty-two week low of $114.30 and a fifty-two week high of $173.24. The company has a market cap of $82.99 billion, a P/E ratio of 20.09, a PEG ratio of 0.91 and a beta of 1.38. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.97 and a current ratio of 1.37.
Caterpillar (NYSE:CAT) last announced its earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.73 by $0.24. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The firm had revenue of $14.01 billion for the quarter, compared to the consensus estimate of $14.09 billion. During the same period last year, the company posted $1.49 EPS. The businesss quarterly revenue was up 23.7% on a year-over-year basis. analysts expect that Caterpillar will post 11.54 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in CAT. Cornerstone Wealth Management LLC boosted its holdings in Caterpillar by 13,856.0% in the second quarter. Cornerstone Wealth Management LLC now owns 1,253,525 shares of the industrial products companys stock valued at $9,194,000 after acquiring an additional 1,244,543 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Caterpillar by 870.5% in the second quarter. Advisors Asset Management Inc. now owns 1,129,502 shares of the industrial products companys stock valued at $7,679,000 after acquiring an additional 1,013,117 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Caterpillar by 99.6% during the 1st quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products companys stock worth $293,415,000 after buying an additional 993,438 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $68,531,000. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Caterpillar by 15,223.3% during the 1st quarter. Summit Trail Advisors LLC now owns 444,377 shares of the industrial products companys stock worth $444,000 after buying an additional 441,477 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the companys stock.
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