Traders sold shares of Cummins Inc. (NYSE:CMI) on strength during trading on Monday. $35.57 million flowed into the stock on the tick-up and $85.03 million flowed out of the stock on the tick-down, for a money net flow of $49.46 million out of the stock. Of all companies tracked, Cummins had the 0th highest net out-flow for the day. Cummins traded up $0.66 for the day and closed at $182.12
CMI has been the subject of a number of research analyst reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $159.00 price target on shares of Cummins in a report on Tuesday, September 12th. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Wells Fargo & Co boosted their price target on Cummins from $184.50 to $190.00 and gave the company a “market perform” rating in a report on Friday, October 6th. Deutsche Bank reiterated a “sell” rating and issued a $159.00 price target (up from $147.00) on shares of Cummins in a report on Monday, October 9th. Finally, Longbow Research lowered Cummins from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. Cummins currently has a consensus rating of “Hold” and an average target price of $178.69.
The firm has a market capitalization of $30,230.00, a PE ratio of 18.51, a PEG ratio of 1.30 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating the Zacks’ 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 quarter in the previous year, the firm posted $2.02 EPS. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. equities research analysts predict that Cummins Inc. will post 10.2 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its position in Cummins by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock worth $38,617,000 after acquiring an additional 3,700 shares during the period. AJO LP boosted its position in Cummins by 11,096.3% during the 2nd quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after acquiring an additional 1,139,586 shares during the period. Kirr Marbach & Co. LLC IN acquired a new position in Cummins during the 3rd quarter worth $255,000. Boston Partners acquired a new position in Cummins during the 3rd quarter worth $416,229,000. Finally, FDx Advisors Inc. acquired a new position in Cummins during the 3rd quarter worth $685,000. Institutional investors own 82.31% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Traders Sell Shares of Cummins (CMI) on Strength (CMI)” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/09/traders-sell-shares-of-cummins-cmi-on-strength-cmi.html.
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.
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.