Cummins (NYSE:CMI) has been assigned a $175.00 price objective by equities researchers at Piper Jaffray Companies in a research note issued on Sunday. The brokerage presently has a “hold” rating on the stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 2.54% from the stock’s previous close.
Several other brokerages have also recently issued reports on CMI. Stifel Nicolaus restated a “hold” rating and set a $190.00 price objective (up from $186.00) on shares of Cummins in a research note on Wednesday, November 1st. Buckingham Research raised their price objective on Cummins from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Robert W. Baird restated a “sell” rating and set a $155.00 price objective on shares of Cummins in a research note on Wednesday, November 1st. Jefferies Group raised their price objective on Cummins from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Finally, Royal Bank Of Canada raised their price objective on Cummins from $169.00 to $173.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Cummins has a consensus rating of “Hold” and an average target price of $176.69.
Cummins (NYSE CMI) traded down $0.22 during mid-day trading on Friday, hitting $170.66. 539,990 shares of the stock were exchanged, compared to its average volume of 1,313,903. Cummins has a twelve month low of $134.06 and a twelve month high of $181.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The firm has a market capitalization of $28,400.00, a P/E ratio of 17.35, a P/E/G ratio of 1.41 and a beta of 1.13.
Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter last year, the company earned $2.02 earnings per share. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. research analysts forecast that Cummins will post 10.19 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CMI. Boston Partners bought a new stake in shares of Cummins during the third quarter valued at about $416,229,000. AJO LP raised its stake in shares of Cummins by 11,096.3% during the second quarter. AJO LP now owns 1,149,856 shares of the company’s stock valued at $186,530,000 after purchasing an additional 1,139,586 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Cummins by 434.1% during the second quarter. Franklin Resources Inc. now owns 1,380,233 shares of the company’s stock valued at $223,902,000 after purchasing an additional 1,121,833 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Cummins by 82.5% during the second quarter. Ameriprise Financial Inc. now owns 1,969,135 shares of the company’s stock valued at $319,426,000 after purchasing an additional 890,404 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Cummins by 784.9% during the second quarter. Janus Henderson Group PLC now owns 784,776 shares of the company’s stock valued at $127,307,000 after purchasing an additional 696,090 shares in the last quarter. Institutional investors own 82.50% of the company’s stock.
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Cummins Company Profile
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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