Cowen & Co. Sticks to Their Buy Rating for Caterpillar (CAT)

In a report released today, Matt Elkott from Cowen & Co. maintained a Buy rating on Caterpillar (CATResearch Report), with a price target of $255.00. The company’s shares closed last Tuesday at $213.09.

According to TipRanks.com, Elkott is a 5-star analyst with an average return of 16.1% and a 61.2% success rate. Elkott covers the Industrial Goods sector, focusing on stocks such as Freightcar America, Paccar, and GATX.

Caterpillar has an analyst consensus of Moderate Buy, with a price target consensus of $246.73.

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The company has a one-year high of $246.69 and a one-year low of $179.67. Currently, Caterpillar has an average volume of 3.47M.

Based on the recent corporate insider activity of 101 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1925, Illinois-based Caterpillar, Inc. manufactures construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments, including Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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