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.

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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.

About Cummins

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.

Analyst Recommendations for Cummins (NYSE:CMI)

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