Cummins Inc. (CMI) Receives Consensus Rating of “Hold” from Analysts

Shares of Cummins Inc. (NYSE:CMI) have been assigned a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $178.96.

A number of analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Cummins in a report on Thursday, December 7th. They set an “outperform” rating and a $192.00 price objective on the stock. Stifel Nicolaus reissued a “hold” rating and set a $190.00 price objective (up previously from $186.00) on shares of Cummins in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $187.00 price objective on the stock in a report on Thursday, September 21st. Robert W. Baird reissued a “sell” rating and set a $155.00 price objective on shares of Cummins in a report on Wednesday, November 1st. Finally, Goldman Sachs Group cut shares of Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, November 30th.

Cummins (NYSE CMI) traded up $0.28 during mid-day trading on Monday, reaching $184.18. 1,470,025 shares of the company’s stock were exchanged, compared to its average volume of 1,242,344. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cummins has a 12 month low of $138.16 and a 12 month high of $185.10. The firm has a market capitalization of $30,570.00, a PE ratio of 18.72, a P/E/G ratio of 1.32 and a beta of 1.14.

Cummins (NYSE:CMI) last released its quarterly earnings data 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 company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the company earned $2.02 earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. equities analysts predict that Cummins will post 10.2 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Cummins by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock valued at $1,884,074,000 after acquiring an additional 298,352 shares during the period. Boston Partners acquired a new position in shares of Cummins in the 3rd quarter valued at $416,229,000. First Eagle Investment Management LLC increased its holdings in shares of Cummins by 2.0% in the 3rd 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 period. FMR LLC increased its holdings in shares of Cummins by 43.8% in the 2nd quarter. FMR LLC now owns 1,989,718 shares of the company’s stock valued at $322,772,000 after acquiring an additional 606,085 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Cummins by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,980,849 shares of the company’s stock valued at $332,843,000 after acquiring an additional 11,714 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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About Cummins

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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