Caterpillar traded in the green for eight straight days

Caterpillar (NYSE:CAT) shares traded in the green on Wednesday, making it the eighth consecutive day of gains. Stock up 0.40% at $355.12.

CAT has risen 28.3% in the last 12 months and 4.8% in the last one month. YTD, the stock is trading slightly above the broader S&P 500 market, which rose 18.13% as compared to Caterpillar’s YTD gain of 19.54%.

Looking at Seeking Alpha’s Quant Ratings, the company has a Hold rating with a score of 3.41 out of 5.

When it comes to Wall Street analysis, 12 out of 26 analysts recommend a Hold, 7 rate it as a Strong Buy, 3 rate it as a Buy, 3 rate it as a Strong Sell and 1 rate it as a Sell.

Seeking Alpha analysts have a Hold rating on the company.

According to SA analyst Pearl Gray Equity and Research, “Although I think Caterpillar is a high-quality company, its core operations might have reached a cyclical peak, meaning its stock price could reach a resistance level.

The company’s second-quarter report communicated slower broad-based sales, which is concerning as the line item coincides with a questionable outlook for the industrial cycle.”