Cummins Price Target Cut to $146.00 (CMI)
Equities researchers at Credit Suisse dropped their target price on shares of Cummins (NYSE:CMI) from $156.00 to $146.00 in a research report issued on Friday, Analyst Ratings News reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective would indicate a potential upside of 8.69% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird raised their price target on shares of Cummins from $131.00 to $139.00 in a research note to investors on Friday. Separately, analysts at Wells Fargo & Co. upgraded shares of Cummins from a “market perform” rating to an “outperform” rating in a research note to investors on Friday. Finally, analysts at Wolfe Research initiated coverage on shares of Cummins in a research note to investors on Friday, January 17th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Cummins has an average rating of “Buy” and a consensus price target of $139.31.
Cummins (NYSE:CMI) traded up 2.71% during mid-day trading on Friday, hitting $134.33. 2,581,192 shares of the company’s stock traded hands. Cummins has a one year low of $103.41 and a one year high of $141.67. The stock has a 50-day moving average of $134.7 and a 200-day moving average of $130.6. The company has a market cap of $24.999 billion and a P/E ratio of 17.32.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.98 by $0.34. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the company posted $2.00 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Cummins will post $9.14 earnings per share for the current fiscal year.
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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