Caterpillar (CAT) is Upgraded by Goldman to Neutral, Price Target at $78

Caterpillar (CAT) was Upgraded by Goldman to ” Neutral” and the brokerage firm has set the Price Target at $78. Earlier the firm had a rating of “Sell ” on the company shares. Goldman advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Caterpillar. Company shares were Reiterated by Barclays on Apr 13, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 67 from a previous price target of $65 .

On the company’s financial health, Caterpillar reported $0.67 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 22, 2016. Analyst had a consensus of $0.68. The company had revenue of $9461.00 million for the quarter, compared to analysts expectations of $9454.87 million. The company’s revenue was down -25.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.72 EPS.

Caterpillar closed down -0.34 points or -0.43% at $78.32 with 1,00,99,567 shares getting traded on Friday. Post opening the session at $78.93, the shares hit an intraday low of $77.2 and an intraday high of $79.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 31, 2015, Bradley M Halverson (Group President & CFO) sold 11,867 shares at $77.11 per share price. According to the SEC, on May 12, 2015, Daniel M Dickinson (director) sold 807 shares at $87.10 per share price.

Caterpillar Inc. is a manufacturer of construction and mining equipment diesel and natural gas engines industrial gas turbines and diesel-electric locomotives. The Company principally operates through its three product segments: Resource Industries Construction Industries and Energy & Transportation. The Company also provides financing and related services through its Financial Products segment. It offers its products under the brand names Caterpillar CAT design versions of CAT and Caterpillar Electro-Motive FG Wilson MaK MWM Perkins Progress Rail SEM and Solar Turbines. It operates parts distribution centers at various locations including Morton Illinois; Arvin California; Denver Colorado; Miami Florida; Atlanta Georgia; St. Paul Minnesota and Dubai United Arab Emirates among others. Its subsidiaries include Caterpillar Life Insurance Company Cat Financial and Caterpillar Product Services Corporation (CPSC) among others.


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