Cummins Inc. (CMI) Stock Rating Reaffirmed by Stifel Nicolaus
Cummins Inc. (NYSE:CMI)‘s stock had its “hold” rating reissued by Stifel Nicolaus in a research report issued on Tuesday. They presently have a $168.00 price target on the stock, up from their prior price target of $160.00. Stifel Nicolaus’ price target indicates a potential upside of 5.12% from the company’s previous close.
A number of other research firms have also recently commented on CMI. Deutsche Bank AG restated a “sell” rating and set a $154.00 target price (up previously from $142.00) on shares of Cummins in a research note on Wednesday, May 3rd. Royal Bank Of Canada restated a “hold” rating and set a $166.00 target price on shares of Cummins in a research note on Monday, June 5th. ValuEngine upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Piper Jaffray Companies restated a “hold” rating and set a $159.00 target price on shares of Cummins in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $160.00 target price (up previously from $150.00) on shares of Cummins in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. Cummins has a consensus rating of “Hold” and a consensus target price of $154.33.
Cummins (NYSE:CMI) traded down 0.13% during mid-day trading on Tuesday, reaching $159.82. 1,294,751 shares of the company were exchanged. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of 18.06 and a beta of 1.09. Cummins has a one year low of $116.03 and a one year high of $170.68. The stock has a 50 day moving average of $163.10 and a 200-day moving average of $154.60.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by $0.05. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the business posted $2.40 EPS. Cummins’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that Cummins will post $7.98 earnings per share for the current fiscal year.
In related news, Director Alexis M. Herman sold 1,300 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $159.16, for a total value of $206,908.00. Following the sale, the director now owns 29,656 shares in the company, valued at $4,720,048.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pat Ward sold 14,050 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $163.95, for a total transaction of $2,303,497.50. Following the completion of the sale, the chief financial officer now owns 13,395 shares in the company, valued at approximately $2,196,110.25. The disclosure for this sale can be found here. Insiders sold 60,636 shares of company stock worth $10,000,575 in the last 90 days. 0.62% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in CMI. State Street Corp boosted its stake in shares of Cummins by 0.5% in the first quarter. State Street Corp now owns 12,238,897 shares of the company’s stock valued at $1,850,515,000 after buying an additional 61,286 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cummins by 4.7% in the first quarter. Vanguard Group Inc. now owns 11,315,964 shares of the company’s stock valued at $1,710,973,000 after buying an additional 510,416 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Cummins by 2,874.8% in the first quarter. BlackRock Inc. now owns 10,211,140 shares of the company’s stock valued at $1,543,924,000 after buying an additional 9,867,890 shares in the last quarter. American International Group Inc. boosted its stake in shares of Cummins by 1.7% in the first quarter. American International Group Inc. now owns 3,471,072 shares of the company’s stock valued at $524,826,000 after buying an additional 59,401 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Cummins by 2.9% in the second quarter. American Century Companies Inc. now owns 2,710,712 shares of the company’s stock valued at $439,732,000 after buying an additional 77,116 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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