Cummins (CMI) Reaches New 52-Week High at $187.59
Cummins Inc. (NYSE:CMI) shares hit a new 52-week high during trading on Friday . The stock traded as high as $187.59 and last traded at $183.72, with a volume of 873600 shares. The stock had previously closed at $183.69.
Several research analysts have recently commented on CMI shares. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Monday, October 2nd. Argus increased their price target on shares of Cummins from $172.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. BMO Capital Markets increased their price target on shares of Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 8th. Jefferies Group raised 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 equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. Cummins presently has a consensus rating of “Hold” and a consensus price target of $180.60.
The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57. The company has a market capitalization of $31,260.00, a P/E ratio of 18.67, a PEG ratio of 1.27 and a beta of 1.14.
Institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its holdings in Cummins by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock valued at $38,617,000 after purchasing an additional 3,700 shares during the period. Kirr Marbach & Co. LLC IN bought a new stake in Cummins in the 3rd quarter valued at $255,000. Boston Partners bought a new stake in Cummins in the 3rd quarter valued at $416,229,000. FDx Advisors Inc. bought a new stake in Cummins in the 3rd quarter valued at $685,000. Finally, Valeo Financial Advisors LLC bought a new stake in Cummins in the 3rd quarter valued at $1,195,000. 82.36% of the stock is owned by hedge funds and other institutional investors.
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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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