Credit Suisse Group Reiterates Buy Rating for Caterpillar (CAT)

Caterpillar (NYSE:CAT)‘s stock had its “buy” rating reissued by analysts at Credit Suisse Group in a note issued to investors on Thursday. They currently have a $173.00 price target on the industrial products company’s stock. Credit Suisse Group’s target price suggests a potential upside of 29.98% from the stock’s previous close.

CAT has been the topic of a number of other research reports. Barclays reissued a “hold” rating on shares of Caterpillar in a research note on Wednesday, October 24th. Macquarie set a $105.00 price target on shares of Caterpillar and gave the company a “sell” rating in a report on Wednesday, October 24th. Bank of America raised their price target on shares of Caterpillar from $140.00 to $163.00 and gave the company a “buy” rating in a report on Sunday, December 9th. Standpoint Research raised shares of Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 price target for the company in a report on Wednesday, December 26th. Finally, UBS Group set a $154.00 price target on shares of Caterpillar and gave the company a “buy” rating in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $151.50.

NYSE:CAT opened at $133.10 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.78. The company has a market cap of $78.54 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 0.58 and a beta of 1.46. Caterpillar has a fifty-two week low of $112.06 and a fifty-two week high of $164.60.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, January 28th. The industrial products company reported $2.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.98 by ($0.43). The company had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.36 billion. Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. On average, equities analysts predict that Caterpillar will post 12.24 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CAT. Semmax Financial Advisors Inc. acquired a new stake in Caterpillar in the fourth quarter valued at approximately $666,000. Kings Point Capital Management lifted its stake in shares of Caterpillar by 120.8% in the fourth quarter. Kings Point Capital Management now owns 530 shares of the industrial products company’s stock worth $67,000 after buying an additional 290 shares during the last quarter. RMB Capital Management LLC lifted its stake in shares of Caterpillar by 9.4% in the fourth quarter. RMB Capital Management LLC now owns 7,165 shares of the industrial products company’s stock worth $910,000 after buying an additional 617 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in Caterpillar during the 4th quarter valued at $481,000. Finally, Geode Capital Management LLC raised its stake in Caterpillar by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock valued at $890,658,000 after purchasing an additional 321,277 shares during the last quarter. 68.90% of the stock is currently owned by hedge funds and other institutional investors.

About Caterpillar

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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