BMO Capital Markets Increases Cummins Price Target to $146.00 (CMI)
Investment analysts at BMO Capital Markets raised their price target on shares of Cummins (NYSE:CMI) from $135.00 to $146.00 in a note issued to investors on Wednesday, ARN reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 9.18% from the company’s current price.
A number of other analysts have also recently weighed in on CMI. Analysts at UBS AG raised their price target on shares of Cummins (NYSE:CMI) to $146.00 in a research note to investors on Wednesday. Separately, analysts at Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Cummins (NYSE:CMI) in a research note to investors on Wednesday. Finally, analysts at Credit Suisse reiterated a “buy” rating on shares of Cummins (NYSE:CMI) in a research note to investors on Monday. They now have a $136.00 price target on the stock.
Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $132.42.
Cummins (NYSE:CMI) traded up 1.33% during mid-day trading on Wednesday, hitting $133.72. The stock had a trading volume of 1,854,635 shares. Cummins has a 52-week low of $85.88 and a 52-week high of $136.24. The stock’s 50-day moving average is $126.1 and its 200-day moving average is $117.2. The company has a market cap of $24.858 billion and a price-to-earnings ratio of 17.58.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, July 30th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the 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 in the prior year, the company posted $2.45 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts expect that Cummins will post $8.20 EPS for the current fiscal year.
In other Cummins news, CFO Pat Ward sold 4,410 shares of Cummins stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $136.24, for a total value of $600,818.40. The sale was disclosed in a document filed with the SEC, which is available at 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.
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