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Robert W. Baird Thinks Caterpillar’s Stock is Going to Recover

Robert W. Baird analyst Mircea Dobre maintained a Buy rating on Caterpillar (CATResearch Report) on July 6 and set a price target of $224.00. The company’s shares closed last Wednesday at $173.87, close to its 52-week low of $169.29.

According to TipRanks.com, Dobre is a 5-star analyst with an average return of 10.5% and a 44.0% success rate. Dobre covers the Industrial Goods sector, focusing on stocks such as Mayville Engineering Company, Lincoln Electric Holdings, and John Bean Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Caterpillar with a $227.13 average price target, which is a 31.9% upside from current levels. In a report issued on June 28, Credit Suisse also reiterated a Buy rating on the stock with a $262.00 price target.

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Caterpillar’s market cap is currently $92.74B and has a P/E ratio of 14.58.

Based on the recent corporate insider activity of 103 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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