Cummins Inc. (NYSE:CMI) Given Average Rating of “Hold” by Analysts
Cummins Inc. (NYSE:CMI) has received a consensus recommendation of “Hold” from the twenty-five brokerages that are presently covering the company. Four analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $113.22.
CMI has been the topic of several recent analyst reports. Credit Agricole SA initiated coverage on Cummins in a research report on Friday. They issued a “buy” rating and a $150.00 price target on the stock. Jefferies Group restated a “hold” rating and set a $115.00 price objective on shares of Cummins in a research report on Thursday, July 7th. Deutsche Bank AG initiated coverage on Cummins in a research report on Tuesday, September 6th. They set a “sell” rating and a $111.00 price objective on the stock. Standpoint Research cut Cummins from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Finally, BMO Capital Markets restated a “market perform” rating and set a $114.00 price objective on shares of Cummins in a research report on Monday, September 12th.
Shares of Cummins (NYSE:CMI) traded down 0.27% on Tuesday, hitting $127.51. The stock had a trading volume of 454,388 shares. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 17.46 and a beta of 1.46. Cummins has a 52 week low of $79.88 and a 52 week high of $129.26. The firm has a 50 day moving average price of $122.87 and a 200-day moving average price of $116.87.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $2.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.25. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.50 billion. Cummins had a return on equity of 19.48% and a net margin of 6.97%. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.62 EPS. Analysts anticipate that Cummins will post $8.14 EPS for the current year.
In related news, insider Jill E. Cook sold 5,980 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $125.05, for a total value of $747,799.00. Following the completion of the sale, the insider now owns 21,714 shares in the company, valued at $2,715,335.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill E. Cook sold 5,981 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $120.20, for a total value of $718,916.20. Following the completion of the sale, the insider now owns 24,800 shares of the company’s stock, valued at approximately $2,980,960. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Motley Fool Wealth Management LLC increased its stake in Cummins by 3.7% in the first quarter. Motley Fool Wealth Management LLC now owns 61,803 shares of the company’s stock worth $6,795,000 after buying an additional 2,183 shares in the last quarter. Cannell Peter B & Co Inc increased its stake in Cummins by 28.7% in the first quarter. Cannell Peter B & Co Inc now owns 7,015 shares of the company’s stock worth $771,000 after buying an additional 1,565 shares in the last quarter. M&T Bank Corp increased its stake in Cummins by 13.1% in the first quarter. M&T Bank Corp now owns 34,253 shares of the company’s stock worth $3,765,000 after buying an additional 3,963 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Cummins during the first quarter worth approximately $3,702,000. Finally, Adell Harriman & Carpenter Inc. increased its stake in Cummins by 33.5% in the first quarter. Adell Harriman & Carpenter Inc. now owns 12,605 shares of the company’s stock worth $1,386,000 after buying an additional 3,160 shares in 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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