UBS AG Lowers Cummins Price Target to $150.00 (CMI)
Equities researchers at UBS AG lowered their target price on shares of Cummins (NYSE:CMI) from $154.00 to $150.00 in a research report issued on Friday, AmericanBankingNews.com reports. UBS AG’s price objective suggests a potential upside of 14.70% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse cut their price target on shares of Cummins from $156.00 to $146.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $139.31.
Shares of Cummins (NYSE:CMI) traded up 2.71% on Friday, hitting $134.33. The stock had a trading volume of 2,549,670 shares. Cummins has a 52 week low of $103.41 and a 52 week high of $141.67. The stock has a 50-day moving average of $134.8 and a 200-day moving average of $130.4. The company has a market cap of $24.999 billion and a P/E ratio of 17.32.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Cummins will post $9.14 EPS 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.
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.