UBS Group Lowers Cummins (NYSE:CMI) Price Target to $400.00

Cummins (NYSE:CMI) had its price objective reduced by equities research analysts at UBS Group from $432.00 to $400.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 24.13% from the company’s current price.

A number of other equities analysts have also weighed in on CMI. JPMorgan Chase & Co. decreased their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Truist Financial boosted their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $389.50.

Cummins Stock Down 1.2 %

CMI opened at $322.23 on Tuesday. The business’s fifty day simple moving average is $358.75 and its 200 day simple moving average is $347.28. Cummins has a 52 week low of $261.51 and a 52 week high of $387.90. The firm has a market cap of $44.30 billion, a P/E ratio of 11.30, a PEG ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm posted $4.14 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Cummins will post 22.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Global Trust Asset Management LLC boosted its position in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department purchased a new position in Cummins during the fourth quarter valued at approximately $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins during the 4th quarter valued at $27,000. Meeder Asset Management Inc. increased its position in Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC bought a new position in Cummins during the fourth quarter valued at approximately $28,000. Institutional investors own 83.46% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.