Several brokerages have updated their recommendations and price targets on shares of Cummins (NYSE: CMI) in the last few weeks:

  • 10/3/2017 – Cummins was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Zacks Consensus Estimate for Cummins’ quarterly earnings has remained unchanged of late. The company expects to witness a growing trend in its truck and construction products’ demand, along with growth in global mining customers, which will have a positive impact on its sales figure. The company is also developing a Class 7 heavy-duty electric truck having a 140 kWh battery pack, to cater bus and commercial truck operators. Moreover, it has also provided an improved outlook for fiscal 2017. The company is also poised to benefit from its business expansions in China and acquisitions and partnerships in North America. Also, its shares have outperformed against the industry, year to date. However, challenging market condition, currency headwinds and high warranty costs might dent the financials of Cummins.”
  • 10/2/2017 – Cummins was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $188.00 price target on the stock. According to Zacks, “Zacks Consensus Estimate for Cummins’ quarterly earnings has remained unchanged of late. The company expects to witness a growing trend in its truck and construction products’ demand, along with growth in global mining customers, which will have a positive impact on its sales figure. The company is also developing a Class 7 heavy-duty electric truck having a 140 kWh battery pack, to cater bus and commercial truck operators. Moreover, it has also provided an improved outlook for fiscal 2017. The company is also poised to benefit from its business expansions in China and acquisitions and partnerships in North America. Also, its shares have outperformed against the industry, year to date. However, challenging market condition, currency headwinds and high warranty costs might dent the financials of Cummins.”
  • 9/26/2017 – Cummins was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Zacks Consensus Estimate for Cummins’ quarterly earnings has remained unchanged of late. The company expects to witness a growing trend in its truck and construction products’ demand, along with growth in global mining customers, which will have a positive impact on its sales figure. The company is also developing a Class 7 heavy-duty electric truck having a 140 kWh battery pack, to cater bus and commercial truck operators. Moreover, it has also provided an improved outlook for fiscal 2017. The company is also poised to benefit from its business expansions in China and acquisitions and partnerships in North America. Also, its shares have outperformed against the industry, year to date. However, challenging market condition, currency headwinds and high warranty costs might dent the financials of Cummins.”
  • 9/21/2017 – Cummins was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $187.00 price target on the stock. According to Zacks, “Zacks Consensus Estimate for Cummins’ quarterly earnings has been going up of late. The company expects to witness a growing trend in its truck and construction products’ demand, along with growth in global mining customers, which will have a positive impact on its sales figure. The company is also developing a Class 7 heavy-duty electric truck having a 140 kWh battery pack, to cater bus and commercial truck operators. Moreover, it has also provided an improved outlook for fiscal 2017. The company is also poised to benefit from its business expansions in China and acquisitions and partnerships in North America. Also, its shares have outperformed against the industry, year to date.”
  • 9/15/2017 – Cummins was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $186.00 price target on the stock. According to Zacks, “Zacks Consensus Estimate for Cummins’ quarterly earnings has been going up of late. The company is developing a Class 7 heavy-duty electric truck having a 140 kWh battery pack, to cater bus and commercial truck operators. This new electric truck will help Cummins to witness a growing trend in the demand of its truck and construction products. It is also poised to benefit from its business expansions in China and acquisitions and partnerships in North America. Also, year to date, its shares have outperformed against the industry it belongs to.”
  • 9/13/2017 – Cummins was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Cummins expects to witness a growing trend in its truck and construction products’ demand, along with growth in global mining customers, which will have a positive impact on its sales figure. It has also provided an improved outlook for fiscal 2017. The company is also poised to benefit from its business expansions in China and acquisitions and partnerships in North America. Also, its shares have outperformed against the industry, year to date. However, challenging market conditions, currency fluctuations in comparison to the U.S. dollar and high warranty costs are few concerns for Cummins. Moreover, its dependence for parts from a single supplier might also lead to manufacturing problems.”
  • 9/12/2017 – Cummins had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $159.00 price target on the stock.
  • 9/7/2017 – Cummins had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $165.00 price target on the stock.
  • 9/5/2017 – Cummins is now covered by analysts at Buckingham Research. They set a “buy” rating and a $180.00 price target on the stock.
  • 9/1/2017 – Cummins was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/30/2017 – Cummins was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Cummins earnings missed the Zacks Consensus Estimate, whereas revenues beat the same in second-quarter 2017. The company expects to witness a growing trend in its truck and construction products’ demand, along with growth in global mining customers, which will have a positive impact on its sales figure. Cummins has also provided an improved outlook for fiscal 2017. The company is also poised to benefit from its business expansions in China and acquisitions and partnerships in North America. Moreover, its shares have outperformed against the industry, year to date. However, challenging market conditions, currency fluctuations in comparison to the U.S. dollar and high warranty costs are few concerns for the company. Moreover, its dependence for parts on a single supplier might also lead to manufacturing problems.”
  • 8/8/2017 – Cummins had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $168.00 price target on the stock, up previously from $160.00.
  • 8/7/2017 – Cummins was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “conviction-buy” rating to a “buy” rating. They now have a $192.00 price target on the stock.

Shares of Cummins Inc. (NYSE CMI) traded up 0.47% on Wednesday, hitting $171.62. 497,054 shares of the company’s stock were exchanged. Cummins Inc. has a 12 month low of $121.22 and a 12 month high of $172.72. The firm has a market cap of $28.66 billion, a P/E ratio of 19.40 and a beta of 1.13. The stock’s 50 day moving average is $161.31 and its 200 day moving average is $158.17.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, August 1st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the company earned $2.40 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts predict that Cummins Inc. will post $7.98 earnings per share for the current year.

In other Cummins news, Director Franklin R. Changdiaz sold 1,633 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the transaction, the director now directly owns 5,814 shares in the company, valued at approximately $925,995.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony Satterthwaite sold 4,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $164.50, for a total value of $658,000.00. Following the completion of the transaction, the insider now owns 41,902 shares in the company, valued at $6,892,879. The disclosure for this sale can be found here. Insiders sold 44,183 shares of company stock worth $7,320,858 in the last quarter. 0.62% of the stock is currently owned by company insiders.

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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