Caterpillar (CAT) Gets a Buy from Bank of America Securities
In a report released today, Sherif El-Sabbahy from Bank of America Securities maintained a Buy rating on Caterpillar, with a price target of $825.00.
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According to TipRanks, El-Sabbahy is a 4-star analyst with an average return of 11.3% and a 53.57% success rate. El-Sabbahy covers the Industrials sector, focusing on stocks such as Quanta Services, Legence Corp. Class A, and Snap-on.
In addition to Bank of America Securities, Caterpillar also received a Buy from Oppenheimer’s Kristen Owen in a report issued on April 14. However, on April 15, Morgan Stanley assigned a Sell rating to 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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