Cummins PT Raised to $125.00 (CMI)
Equities research analysts at JPMorgan Chase & Co. upped their price objective on shares of Cummins (NYSE:CMI) from $118.00 to $125.00 in a research note issued to investors on Friday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 6.05% from the stock’s previous close.
Shares of Cummins (NYSE:CMI) traded up 0.47% during mid-day trading on Friday, hitting $133.68. The stock had a trading volume of 1,482,768 shares. Cummins has a one year low of $85.88 and a one year high of $133.67. The stock has a 50-day moving average of $124.2 and a 200-day moving average of $116.. The company has a market cap of $24.851 billion and a P/E ratio of 17.73.
Cummins (NYSE:CMI) last released its earnings data on Tuesday, July 30th. The company reported $2.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.99 by $0.21. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the company posted $2.45 earnings per share. Cummins’s revenue was up 1.6% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse raised their price target on shares of Cummins (NYSE:CMI) from $134.00 to $136.00 in a research note to investors on Thursday, August 1st. They now have an “outperform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Cummins (NYSE:CMI) from $130.00 to $134.00 in a research note to investors on Thursday, August 1st. They now have an “overweight” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Cummins (NYSE:CMI) from $120.00 to $138.00 in a research note to investors on Wednesday, July 31st. They now have an “outperform” rating on the stock.
Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $129.33.
In other Cummins news, VP Steven M. Chapman sold 4,500 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $130.03, for a total transaction of $585,135.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Cummins Inc is a diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products, including filtration, exhaust aftertreatment, fuel systems, fuel systems, controls systems, air handling systems and electric power.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.