Caterpillar Inc. [CAT] gets its Outperform rating reiterated by Baird, with a $220 price target

Baird maintained its Caterpillar Inc. [NYSE:CAT]‎ rating to the equivalent of Outperform but changed the price target ‎to $220 ‎from $206, in a research note dated December 30, 2020. That figure represents around a 24.54% ‎premium ‎from where the company’s shares closed on Tuesday.‎ Other ‎analysts also revised their coverage, with Wells Fargo’s analysts upgrading the shares from “an Equal ‎weight” rating to “an Overweight” rating in a research note to investors issued in mid October. In ‎addition, there was an upgrade from Atlantic Equities on August 03, 2020. The rater changed CAT from ‎‎”an Underweight” to “a Neutral”.

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Is Caterpillar Inc. [NYSE:CAT] a Good Buy Right Now?

It should be noted that CAT technical ‎indicators for short, intermediate as well as long term progress have placed an overall average of 88% ‎as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the ‎past month. Data from Caterpillar Inc.’s Trend Spotter indicated that the signals were Weakest. The ‎stock current average is 2.67 million shares in the past 20 days and the short term average signal ‎indicates a 50% Buy. In the last 50 days, the average trading volume was 3.15 million shares while the ‎medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and ‎the 100-day average volume stands at 3.18 million shares.‎‎

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CAT Price Performance

On Wall Street, Caterpillar Inc. [NYSE:CAT] finished Tuesday’s ‎session down -0.96% at $176.65. The stock went up to $179.38 at the same session while its lowest ‎single day price was $175.11. In the last five days, it saw a fall of about -1.95%, Caterpillar Inc. shares ‎gained by almost 19.62% since the beginning of the year. However, the share price has dropped to as ‎low as -3.90% below its one year high. On 12/04/20, the company shares recorded $183.81, the highest ‎single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/12/20, the same ‎year at $87.50. The company’s shares have inclined by 19.75% in the past year. The 50-day SMA ‎achieved is $171.94 while the 200-day SMA is $140.46. Volume dropped to 1.49 million from 1.51 million ‎in the previous session.‎‎

Caterpillar Inc. [CAT] Valuation Measures

Notably, Caterpillar Inc. [CAT] stock cannot be ‎classified as a good candidate in the listing of underestimated low-priced Farm & Heavy Construction ‎Machinery companies to purchase soonest possible with the prevailing 12-month PE ratio of 29.37. The ‎measure means the stock is exchanging at a premium as compared to the 19.45x trailing earnings of ‎the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a ‎‎2.18 PS value ratio is reported for the last one year of reported earnings. That is higher than the ‎industry average of 0.79 which means CAT serve an unattractive investment opportunity compared to ‎its competitors.‎

CAT Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is ‎perceived around 174.71 level, and in case of violation of this particular level, it will cause more drop to ‎‎172.78 level. On the upper level, 181.32 is still the key resistance. The stock may increase to the ‎subsequent resistance at 178.98. The Relative Strength Index (RSI) pinned on the 14-day chart is 50.60, ‎implying a neutral technical stance while the MACD stands at -0.90, meaning price will decrease in the ‎next trading period. Percent R indicator moved to 81.27%, implying bearish price movement. ‎Stochastic %K at 31.93% suggest selling the stock.‎‎

What is the short interest in Caterpillar Inc.?

Short interest in the Caterpillar Inc. stock has ‎plunged, decreasing by -0.24 million shares to total 7.56 million shares on Dec 14, 2020. The interest ‎had seen shares on Nov 12, 2020 stand at 7.32 million, data from Yahoo Finance shows. The increase of ‎‎3.17% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ‎ratio) moved to while the shorted shares account for just 1.39% of the overall float for the stock.‎‎

Caterpillar Inc.’s Biggest Shareholders: Who Owns Caterpillar Inc. [CAT]?

Filings by The ‎Vanguard Group, Inc. showed that the firm now holds a total of 43,919,704 shares or roughly 8.08% of ‎the outstanding CAT shares. This means their shares have reduced by -430,591 from the 43,919,704 the ‎investor reportedly held in its prior 13-F filing. With the conclusion of the sale, SSgA Funds ‎Management, Inc. updated stake is worth $7,465,748,652. Details in the latest 13F filings reveal that ‎BlackRock Fund Advisors disposed off their -1.69% stake valued at $4,102,153,895 while State Farm ‎Investment Management cut theirs at $3,330,549,296. During the last quarter, BlackRock Fund Advisors ‎liquidated -405,488 of its shares in Caterpillar Inc.. The Bill & Melinda Gates Foundation T’s holdings currently number 11,260,857 shares at ‎‎$1989230389.05. According to the firm’s last 13F report, Capital Research & Management Co shares in ‎the company at filing stood at 8,012,892 shares, roughly $1,390,957,922.‎‎

CAT Earnings Forecast For The Current Quarter

Caterpillar Inc. [CAT] is expected to report ‎weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company ‎expected revenues of $11.19B and an earnings per share of $1.46 for Dec 2020. Looking further ahead, ‎the company is expected to report revenue of $10.75B at an EPS of $1.67 for Mar 2021. The estimates ‎represent downside of 9.70% and 35.74% in the company’s revenue and earnings per share, ‎respectively, on a year-on-year basis.‎

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CAT Earnings Estimates For The Current ‎Year

For the financial year, Caterpillar Inc. [NYSE:CAT] is expected to bring in revenue of $41.56B. ‎The returns are nearly $-12.24 billion lower than the company’s actual revenue recorded in the fiscal ‎year 2019. In terms of EPS for the 2020, estimate put it at 5.44, lower than that of FY19 by -$5.62. ‎Estimates put this year’s earnings growth at -50.80%, 36.00% for the next, and at an annual -2.72% over ‎the next 5-year period. As for sales, forecasts are for a decrease of -22.70% in the current fiscal year ‎and a further 9.70% over the following year.

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