Citi Sticks to Their Buy Rating for Caterpillar (CAT)
Citi analyst Kyle Menges maintained a Buy rating on Caterpillar today and set a price target of $905.00.
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Menges covers the Industrials sector, focusing on stocks such as EquipmentShare.com, Inc., Herc Holdings, and WillScot Mobile Mini Holdings. According to TipRanks, Menges has an average return of 19.4% and a 65.49% success rate on recommended stocks.
In addition to Citi, Caterpillar also received a Buy from Truist Financial’s Jamie Cook in a report issued on April 9. However, on the same day, Bernstein maintained a Hold rating on Caterpillar (NYSE: CAT).
Based on Caterpillar’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $19.13 billion and a net profit of $2.4 billion. In comparison, last year the company earned a revenue of $16.22 billion and had a net profit of $2.79 billion
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CAT in relation to earlier this year. Last month, Joseph E Creed, the CEO of CAT sold 3,196.00 shares for a total of $2,311,257.17.
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