BMO Capital Markets Increases Cummins Inc. (CMI) Price Target to $190.00

Cummins Inc. (NYSE:CMI) had its target price boosted by investment analysts at BMO Capital Markets from $185.00 to $190.00 in a report issued on Wednesday, November 8th. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 17.97% from the stock’s current price.

Other research analysts have also issued reports about the company. Stifel Nicolaus raised their price target on Cummins from $160.00 to $168.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada restated a “hold” rating and set a $166.00 price target on shares of Cummins in a research report on Wednesday, July 12th. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reiterated a “hold” rating and issued a $161.00 price objective on shares of Cummins in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG reduced their price objective on Cummins from $155.00 to $147.00 and set a “sell” rating on the stock in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $173.96.

Shares of Cummins (CMI) traded up $1.26 during trading on Wednesday, reaching $161.06. The company had a trading volume of 598,479 shares, compared to its average volume of 1,304,671. The stock has a market capitalization of $26,630.00, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. Cummins has a 52 week low of $134.06 and a 52 week high of $181.79. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same period last year, the business posted $2.02 earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis. equities research analysts predict that Cummins will post 10.19 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Carroll Financial Associates Inc. lifted its position in shares of Cummins by 13.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock valued at $113,000 after acquiring an additional 83 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Cummins during the 3rd quarter worth approximately $132,000. Captrust Financial Advisors acquired a new position in shares of Cummins during the 2nd quarter worth approximately $137,000. Acrospire Investment Management LLC acquired a new position in shares of Cummins during the 2nd quarter worth approximately $146,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Cummins during the 1st quarter worth approximately $150,000. Institutional investors own 84.48% of the company’s stock.

About Cummins

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

Analyst Recommendations for Cummins (NYSE:CMI)

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