Wells Fargo Remains a Buy on Caterpillar (CAT)
Wells Fargo analyst Jerry Revich reiterated a Buy rating on Caterpillar yesterday and set a price target of $870.00.
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Revich covers the Industrials sector, focusing on stocks such as Caterpillar, Cummins, and Herc Holdings. According to TipRanks, Revich has an average return of 8.7% and a 56.73% success rate on recommended stocks.
In addition to Wells Fargo, Caterpillar also received a Buy from Oppenheimer’s Kristen Owen in a report issued today. However, on April 9, 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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