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.
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.
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.
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