Caterpillar (CAT) : 1 brokerage houses believe that Caterpillar (CAT) is a Strong Buy at current levels. 12 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Caterpillar (CAT). Zacks Investment Research suggests a Sell with a rank of 4. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 14 Wall Street Analysts endorse the stock as a Hold with a rating of 3.
Caterpillar (CAT) : The most positive equity analysts on Caterpillar (CAT) expects the shares to touch $92, whereas, the least positive believes that the stock will trade at $52 in the short term. The company is covered by 11 Wall Street Brokerage Firms. The average price target for shares are $70.82 with an expected fluctuation of $10.62 from the mean.
Caterpillar (NYSE:CAT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $74.59 and $73.46 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $74.87. The buying momentum continued till the end and the stock did not give up its gains. It closed at $74.83, notching a gain of 0.61% for the day. The total traded volume was 3,740,499 . The stock had closed at $74.38 on the previous day.
Also, Argus Research upgrades its rating on Caterpillar (NYSE:CAT). The global brokerage major announces a current price target of $92 per share. Analysts at the Argus Research have a current rating of Buy on the shares. The shares were previously rated Hold. The rating by the firm was issued on April 26, 2016. The company shares have dropped -9.59% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $89.62 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $74.07 and the 200 Day Moving Average price is recorded at $71.00.
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.