Cummins Upgraded to Buy by ISI Group (CMI)
Cummins (NYSE:CMI) was upgraded by investment analysts at ISI Group to a “buy” rating in a note issued to investors on Monday, Stock Ratings News reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank initiated coverage on shares of Cummins in a research note on Thursday. They set a “buy” rating and a $170.00 price target on the stock. Separately, analysts at S&P Equity Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, analysts at UBS AG cut their price target on shares of Cummins from $154.00 to $150.00 in a research note on Friday, February 7th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cummins has an average rating of “Buy” and a consensus target price of $141.50.
In other Cummins news, VP John Wall sold 5,500 shares of Cummins stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $142.61, for a total transaction of $784,355.00. Following the sale, the vice president now directly owns 24,059 shares of the company’s stock, valued at approximately $3,431,054. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Cummins (NYSE:CMI) opened at 142.83 on Monday. Cummins has a 52-week low of $103.41 and a 52-week high of $143.83. The stock’s 50-day moving average is $134.9 and its 200-day moving average is $132.0. The company has a market cap of $26.481 billion and a price-to-earnings ratio of 17.92.
Cummins (NYSE:CMI) last released its earnings data 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. Analysts expect that Cummins will post $8.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Shareholders of record on Friday, February 21st will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, February 19th.
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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