Caterpillar: Buy at the High?
With Caterpillar (NYSE: CAT) shares jumping 45% over the past year, and being up 55% from their 52-week low, investors are right to wonder whether buying the heavy equipment maker's stock is a good idea at this point.
It's no secret that construction, agriculture, and the like are cyclical in nature, and Caterpillar has been able to ride the current wave of growth higher after a multiyear slump. Sales were up $1 billion in the second quarter while per-share profits rose 37% on an adjusted basis. It saw gains in all of its end markets, including construction, resources, and energy and transportation, as well as across geographic regions.
It's that sort of broad-based, well-rounded growth that has many thinking Caterpillar can keep the momentum growing.
Source: Fool.com
Caterpillar Inc. Stock
Our community is currently high on Caterpillar Inc. with 60 Buy predictions and 6 Sell predictions.
As a result the target price of 778 € shows a slightly positive potential of 4.74% compared to the current price of 742.8 € for Caterpillar Inc..
