Cummins Inc. (CMI) Rating Reiterated by Jefferies Group LLC
Cummins Inc. (NYSE:CMI)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group LLC in a report issued on Thursday. They presently have a $165.00 price target on the stock. Jefferies Group LLC’s price target points to a potential upside of 1.95% from the stock’s previous close.
CMI has been the subject of a number of other research reports. Deutsche Bank AG upped their target price on Cummins from $139.00 to $142.00 and gave the company a “sell” rating in a report on Tuesday, July 4th. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. ValuEngine downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) downgraded Cummins from a “conviction-buy” rating to a “buy” rating and set a $192.00 target price for the company. in a report on Monday, August 7th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $166.00 target price on shares of Cummins in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Cummins currently has a consensus rating of “Hold” and a consensus target price of $157.61.
Cummins (CMI) traded up 1.49% during midday trading on Thursday, hitting $161.85. 1,288,094 shares of the stock were exchanged. The company’s 50 day moving average is $158.62 and its 200 day moving average is $156.09. The company has a market capitalization of $27.03 billion, a P/E ratio of 18.29 and a beta of 1.10. Cummins has a 1-year low of $116.30 and a 1-year high of $170.68.
Cummins (NYSE:CMI) last announced 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. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cummins had a net margin of 8.10% and a return on equity of 20.67%. Cummins’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.40 EPS. Analysts predict that Cummins will post $7.98 earnings per share for the current fiscal year.
WARNING: “Cummins Inc. (CMI) Rating Reiterated by Jefferies Group LLC” was originally published by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/09/07/cummins-inc-cmi-rating-reiterated-by-jefferies-group-llc.html.
In other news, CFO Pat Ward sold 14,050 shares of the firm’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 transaction, the chief financial officer now directly owns 13,395 shares in the company, valued at $2,196,110.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Franklin R. Changdiaz sold 1,633 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $159.27, for a total value of $260,087.91. Following the transaction, the director now owns 5,814 shares of the company’s stock, valued at $925,995.78. The disclosure for this sale can be found here. Insiders have sold 58,233 shares of company stock valued at $9,624,355 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.
Several large investors have recently modified their holdings of the company. Navellier & Associates Inc increased its holdings in shares of Cummins by 3.4% during the second quarter. Navellier & Associates Inc now owns 16,476 shares of the company’s stock valued at $2,673,000 after acquiring an additional 539 shares in the last quarter. USA Financial Portformulas Corp bought a new position in shares of Cummins during the second quarter valued at $999,000. Toronto Dominion Bank increased its holdings in shares of Cummins by 25.3% during the second quarter. Toronto Dominion Bank now owns 52,417 shares of the company’s stock valued at $8,502,000 after acquiring an additional 10,581 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Cummins by 0.3% during the second quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock valued at $2,508,000 after acquiring an additional 51 shares in the last quarter. Finally, WINTON GROUP Ltd increased its holdings in shares of Cummins by 10.2% during the second quarter. WINTON GROUP Ltd now owns 38,158 shares of the company’s stock valued at $6,190,000 after acquiring an additional 3,529 shares in the last quarter. Hedge funds and other institutional investors own 80.43% 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.
Receive News & Ratings for Cummins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins Inc. and related companies with MarketBeat.com's FREE daily email newsletter.