Industrial giant Caterpillar CAT has surged more than 50% since bottoming in September of last year. The stock is staging a renewed uptrend amid broad strength in the industrials sector. The world’s leading manufacturer of construction and mining equipment, CAT appears well-positioned to extend its recent gains. Caterpillar stock is currently hitting a fresh all-time high in price, a bullish sign.
CAT has surpassed earnings estimates in each of the past four quarters, sporting an average 14.68% earnings beat over that timeframe. The company most recently reported Q3 results back in October of $3.95/share, a 23.82% beat over the $3.19 consensus estimate.
CAT stock is ranked favorably by our Zacks Style Scores, with a best-possible ‘A’ rating for our Momentum and overall VGM categories. Caterpillar is a Zacks Rank #3 (Hold) stock. The company is set to report Q4 earnings results on January 31st before the market open.
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