Caterpillar (CAT) : Zacks Investment Research ranks Caterpillar (CAT) as 3, which is a Hold recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 12 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 3, which indicates as a Hold.
Caterpillar (CAT) stock is expected to deviate a maximum of $11.11 from the average target price of $73.36 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $92 and the most muted being $52.
Company shares have received an average consensus rating of Hold for the current week Caterpillar (NYSE:CAT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $83.00 and $82.99 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $83.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $83.24, notching a gain of 0.71% for the day. The total traded volume was 2,229,261 . The stock had closed at $82.65 on the previous day.
In a related news, Copeland Jananne A., officer (Chief Accounting Officer) of Caterpillar Inc, unloaded 706 shares at an average price of $82.95 on July 29, 2016. The total amount of the transaction was worth $58,563, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.