Cummins Inc. (CMI) Now Covered by Analysts at Credit Agricole SA
A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets reiterated a market perform rating and set a $114.00 target price on shares of Cummins in a research note on Monday, September 12th. William Blair set a $110.00 target price on shares of Cummins and gave the company a hold rating in a research note on Thursday, September 8th. Deutsche Bank AG began coverage on shares of Cummins in a research note on Tuesday, September 6th. They set a sell rating and a $111.00 target price for the company. Jefferies Group boosted their target price on shares of Cummins from $115.00 to $120.00 and gave the company a hold rating in a research note on Thursday, September 1st. Finally, Citigroup Inc. boosted their target price on shares of Cummins from $115.00 to $120.00 and gave the company a neutral rating in a research note on Wednesday, August 3rd. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. Cummins currently has a consensus rating of Hold and an average price target of $111.35.
Shares of Cummins (NYSE:CMI) opened at 128.15 on Friday. Cummins has a 1-year low of $79.88 and a 1-year high of $128.60. The company has a market cap of $21.53 billion, a price-to-earnings ratio of 17.55 and a beta of 1.46. The company’s 50-day moving average price is $122.84 and its 200 day moving average price is $116.57.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, August 2nd. The company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.25. The business earned $4.50 billion during the quarter, compared to analyst estimates of $4.50 billion. Cummins had a net margin of 6.97% and a return on equity of 19.48%. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.62 EPS. On average, analysts predict that Cummins will post $8.14 earnings per share for the current fiscal year.
In other news, COO Richard Joseph Freeland sold 2,500 shares of Cummins stock in a transaction on Friday, August 5th. The shares were sold at an average price of $125.00, for a total transaction of $312,500.00. Following the completion of the sale, the chief operating officer now directly owns 5,808 shares in the company, valued at $726,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Pat Ward sold 5,000 shares of Cummins stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $122.50, for a total transaction of $612,500.00. Following the sale, the chief financial officer now owns 8,024 shares of the company’s stock, valued at $982,940. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. First Manhattan Co. increased its stake in Cummins by 8.0% in the second quarter. First Manhattan Co. now owns 957 shares of the company’s stock valued at $107,000 after buying an additional 71 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in Cummins during the second quarter valued at approximately $109,000. Kanaly Trust Co increased its stake in Cummins by 3.1% in the second quarter. Kanaly Trust Co now owns 1,114 shares of the company’s stock valued at $125,000 after buying an additional 34 shares during the last quarter. Signaturefd LLC increased its stake in Cummins by 17.1% in the second quarter. Signaturefd LLC now owns 1,111 shares of the company’s stock valued at $125,000 after buying an additional 162 shares during the last quarter. Finally, FCM Investments TX increased its stake in Cummins by 33.3% in the second quarter. FCM Investments TX now owns 1,200 shares of the company’s stock valued at $135,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.
Cummins Company Profile
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its 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, agricultural and governmental equipment markets.
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