Cummins (NYSE:CMI)‘s stock had its “buy” rating restated by equities researchers at Wells Fargo & Co in a research note issued to investors on Thursday. They currently have a $195.00 price target on the stock, down from their previous price target of $210.00. Wells Fargo & Co’s target price suggests a potential upside of 15.75% from the stock’s current price.
A number of other brokerages also recently issued reports on CMI. ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Barclays reiterated an “equal weight” rating and issued a $191.00 price objective (up previously from $180.00) on shares of Cummins in a research report on Wednesday, January 24th. Oppenheimer increased their price objective on Cummins to $207.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $182.00 price objective on shares of Cummins in a research report on Monday, February 5th. Finally, Citigroup increased their price objective on Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $188.47.
Cummins (NYSE CMI) traded up $1.44 during trading hours on Thursday, hitting $168.46. The company’s stock had a trading volume of 249,920 shares, compared to its average volume of 1,497,402. The stock has a market capitalization of $27,549.82, a P/E ratio of 28.19, a P/E/G ratio of 1.16 and a beta of 1.14. Cummins has a 12-month low of $143.83 and a 12-month high of $194.18. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.
Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.38. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.25 earnings per share. equities analysts forecast that Cummins will post 12.53 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Cummins by 8.3% in the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after acquiring an additional 898,512 shares during the last quarter. Boston Partners increased its stake in Cummins by 33.1% in the fourth quarter. Boston Partners now owns 3,296,825 shares of the company’s stock valued at $582,351,000 after acquiring an additional 819,719 shares during the last quarter. Geode Capital Management LLC increased its stake in Cummins by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,122,029 shares of the company’s stock valued at $374,228,000 after acquiring an additional 59,257 shares during the last quarter. APG Asset Management N.V. increased its stake in Cummins by 5.4% in the fourth quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock valued at $303,894,000 after acquiring an additional 105,100 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Cummins by 2.0% in the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after acquiring an additional 39,674 shares during the last quarter. 82.69% of the stock is currently owned by institutional investors and hedge funds.
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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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