Cummins Inc. (NYSE:CMI) had its price objective hoisted by stock analysts at BMO Capital Markets from $185.00 to $190.00 in a report released on Wednesday. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 13.12% from the stock’s previous close.
Several other research analysts also recently weighed in on CMI. Royal Bank Of Canada upped their target price on shares of Cummins from $169.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, November 2nd. Stifel Nicolaus restated a “hold” rating and issued a $190.00 target price (up from $186.00) on shares of Cummins in a research note on Wednesday, November 1st. Argus upped their target price on shares of Cummins from $172.00 to $195.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Group LLC upped their target price on shares of 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 shares of Cummins and gave the company a “hold” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $173.96.
Shares of Cummins (CMI) opened at $167.96 on Wednesday. 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 has a 52 week low of $133.16 and a 52 week high of $181.79. The stock has a market cap of $28,443.51, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16.
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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.79 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. Cummins’s revenue for the quarter was up 26.2% on a year-over-year basis. sell-side analysts predict that Cummins will post 10.12 EPS for the current year.
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Large investors have recently modified their holdings of the business. Carroll Financial Associates Inc. raised its holdings in shares of Cummins by 13.4% during the second quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after purchasing an additional 83 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Cummins during the third quarter worth $132,000. Captrust Financial Advisors acquired a new stake in shares of Cummins during the second quarter worth $137,000. Acrospire Investment Management LLC acquired a new stake in shares of Cummins during the second quarter worth $146,000. Finally, First Interstate Bank raised its holdings in shares of Cummins by 2.7% during the second quarter. First Interstate Bank now owns 956 shares of the company’s stock worth $155,000 after purchasing an additional 25 shares during the period. 81.94% of the stock is currently owned by institutional investors.
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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