Cummins (NYSE:CMI) Upgraded by ValuEngine to Hold

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ValuEngine upgraded shares of Cummins (NYSE:CMI) from a sell rating to a hold rating in a research report sent to investors on Wednesday, ValuEngine reports.

A number of other analysts have also weighed in on the company. Barclays restated a hold rating and set a $159.00 target price on shares of Cummins in a report on Wednesday, October 16th. Wells Fargo & Co upped their target price on Cummins from $165.00 to $180.00 and gave the stock a market perform rating in a report on Wednesday, October 30th. Citigroup restated a buy rating and set a $200.00 target price (up previously from $175.00) on shares of Cummins in a report on Tuesday, November 5th. Credit Suisse Group upped their target price on Cummins from $198.00 to $203.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Finally, Morgan Stanley upped their target price on Cummins from $162.00 to $174.00 and gave the stock an equal weight rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $172.53.

Cummins stock traded up $3.74 during mid-day trading on Wednesday, reaching $186.27. 1,241,589 shares of the company were exchanged, compared to its average volume of 1,271,683. The business has a fifty day moving average of $167.49 and a 200 day moving average of $162.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.52. The firm has a market cap of $27.57 billion, a P/E ratio of 14.08, a PEG ratio of 1.84 and a beta of 1.13. Cummins has a 12-month low of $124.40 and a 12-month high of $186.73.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, October 29th. The company reported $3.83 earnings per share for the quarter, missing analysts’ consensus estimates of $3.84 by ($0.01). The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.87 billion. Cummins had a return on equity of 28.52% and a net margin of 10.53%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.05 EPS. Sell-side analysts predict that Cummins will post 15.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a dividend of $1.311 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Wednesday, November 13th. Cummins’s payout ratio is presently 39.61%.

Several hedge funds have recently modified their holdings of CMI. Gradient Investments LLC increased its position in shares of Cummins by 102.8% in 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 period. Krane Funds Advisors LLC acquired a new stake in Cummins during the 2nd quarter worth about $26,000. Kempen Capital Management N.V. acquired a new stake in Cummins during the 2nd quarter worth about $29,000. Sonora Investment Management LLC acquired a new stake in Cummins during the 2nd quarter worth about $32,000. Finally, Lenox Wealth Advisors LLC acquired a new stake in Cummins during the 2nd quarter worth about $33,000. 81.94% of the stock is currently owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cummins (NYSE:CMI)

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