Cummins (NYSE:CMI) Lifted to “Outperform” at Evercore ISI

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Cummins (NYSE:CMI) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Friday, Marketbeat.com reports. The brokerage presently has a $207.00 price target on the stock. Evercore ISI’s price objective would suggest a potential upside of 11.13% from the stock’s previous close.

Several other equities analysts also recently issued reports on CMI. Cfra downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Barclays reiterated a “hold” rating and set a $159.00 price objective on shares of Cummins in a research report on Wednesday, October 16th. Wells Fargo & Co boosted their price objective on Cummins from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Standpoint Research downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, Citigroup reiterated a “buy” rating and set a $200.00 price objective (up from $175.00) on shares of Cummins in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $172.53.

Shares of NYSE:CMI traded up $3.74 during trading on Friday, hitting $186.27. 1,241,589 shares of the company traded hands, compared to its average volume of 1,271,683. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.84 and a beta of 1.13. The business’s fifty day moving average is $167.49 and its 200-day moving average is $162.97. Cummins has a one year low of $124.40 and a one year high of $186.73. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.18.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, October 29th. The company reported $3.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.84 by ($0.01). The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.87 billion. Cummins had a net margin of 10.53% and a return on equity of 28.52%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $4.05 earnings per share. On average, analysts forecast that Cummins will post 15.03 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gradient Investments LLC lifted its position in shares of Cummins by 102.8% during the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after acquiring an additional 74 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Cummins during the 2nd quarter valued at $26,000. Kempen Capital Management N.V. acquired a new stake in shares of Cummins during the 2nd quarter valued at $29,000. Sonora Investment Management LLC acquired a new stake in shares of Cummins during the 2nd quarter valued at $32,000. Finally, Lenox Wealth Advisors LLC acquired a new stake in shares of Cummins during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

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Analyst Recommendations for Cummins (NYSE:CMI)

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