Cummins Sets New 12-Month High at $156.57 (CMI)
Cummins (NYSE:CMI) shares reached a new 52-week high on Thursday , AnalystRatings.Net reports. The company traded as high as $156.57 and last traded at $156.50, with a volume of 536,056 shares trading hands. The stock had previously closed at $153.78.
CMI has been the subject of a number of recent research reports. Analysts at Barclays reiterated an “overweight” rating on shares of Cummins in a research note on Wednesday, April 30th. They now have a $167.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Cummins from $144.00 to $150.00 in a research note on Wednesday, April 30th. Finally, analysts at William Blair raised their price target on shares of Cummins from $165.00 to $175.00 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Cummins currently has an average rating of “Buy” and a consensus target price of $156.93.
The stock’s 50-day moving average is $150.0 and its 200-day moving average is $141.0. The company has a market cap of $28.547 billion and a P/E ratio of 18.62.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, April 29th. The company reported $1.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.68 by $0.15. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter last year, the company posted $1.49 earnings per share. Cummins’s revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that Cummins will post $8.97 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.
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.