Why Caterpillar Stock Is Down Today
One Wall Street analyst is calling the top on heavy equipment makers, and investors are heeding the call. Shares of Caterpillar (NYSE: CAT) traded down about 3% on Tuesday afternoon after the stock was downgraded to in line from outperform.
Caterpillar makes big, expensive machines used in construction, infrastructure development, and mining. Its products are ubiquitous and essential to the global economy, but sales tend to surge and fall along with current economic conditions and its customers' willingness to commit big money to new equipment.
Shares of Cat are up 50% over the past three years, easily beating the S 500's 27% return. David Raso, an analyst at Evercore ISI, believes the time is right for investors to take profits on the stock and look elsewhere for bargains.
Source Fool.com
Caterpillar Inc. Stock
We see a rather positive sentiment for Caterpillar Inc. with 14 Buy predictions and 2 Sell predictions.
At the moment Caterpillar Inc. has reached the predicted target price of 316 €, with a current price of 313.0 €.
