Cummins (NYSE:CMI)‘s stock had its “hold” rating reaffirmed by analysts at Stifel Nicolaus in a note issued to investors on Monday, February 5th. They presently have a $182.00 target price on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 10.85% from the company’s current price.
A number of other equities research analysts have also issued reports on CMI. Bank of America raised Cummins from a “neutral” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Friday, January 19th. BMO Capital Markets upped their price target on Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a research report on Wednesday, November 8th. Argus upped their price target on Cummins from $172.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Jefferies Group boosted their target price on Cummins from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $170.00 target price on Cummins and gave the company a “hold” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $188.18.
Shares of Cummins (NYSE CMI) traded down $1.44 during mid-day trading on Monday, reaching $164.19. The company’s stock had a trading volume of 54,814 shares, compared to its average volume of 1,475,659. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. Cummins has a one year low of $143.83 and a one year high of $194.18. The firm has a market cap of $27,490.00, a price-to-earnings ratio of 27.88, a PEG ratio of 1.17 and a beta of 1.14.
Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. analysts predict that Cummins will post 12.44 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its holdings in shares of Cummins by 1.6% in 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 buying an additional 3,700 shares in the last quarter. Kirr Marbach & Co. LLC IN bought a new stake in Cummins during the 3rd quarter worth approximately $255,000. Boston Partners bought a new stake in Cummins during the 3rd quarter worth approximately $416,229,000. FDx Advisors Inc. bought a new stake in Cummins during the 3rd quarter worth approximately $685,000. Finally, IFM Investors Pty Ltd bought a new stake in Cummins during the 3rd quarter worth approximately $742,000. 83.06% of the stock is owned by institutional investors and hedge funds.
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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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