Cummins Stock Rating Reaffirmed by Argus (CMI)
Cummins (NYSE:CMI)‘s stock had its “buy” rating reiterated by Argus in a research note issued on Thursday. They currently have a $170.00 price target on the stock. Argus’ price target would suggest a potential upside of 10.40% from the company’s current price.
Several other analysts have also recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $157.50.
Shares of Cummins (NYSE:CMI) opened at 153.99 on Thursday. Cummins has a 52-week low of $107.51 and a 52-week high of $161.03. The stock has a 50-day moving average of $154.2 and a 200-day moving average of $144.7. The company has a market cap of $28.134 billion and a price-to-earnings ratio of 18.69.
Cummins (NYSE:CMI) last released its earnings data 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.
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