Cummins (NYSE:CMI) was downgraded by research analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports.

A number of other brokerages have also recently issued reports on CMI. Stifel Nicolaus reiterated a “hold” rating and set a $190.00 target price (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Buckingham Research started coverage on shares of Cummins in a research report on Tuesday, September 5th. They issued a “buy” rating and a $180.00 price objective for the company. Piper Jaffray Companies restated a “hold” rating and issued a $159.00 price objective on shares of Cummins in a research report on Thursday, August 3rd. Deutsche Bank lowered their price objective on shares of Cummins from $155.00 to $147.00 and set a “sell” rating for the company in a research report on Wednesday, August 2nd. Finally, BMO Capital Markets raised their price objective on shares of Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. Cummins presently has an average rating of “Hold” and a consensus price target of $176.20.

Shares of Cummins (CMI) traded up $2.88 during trading on Thursday, hitting $167.40. 1,912,819 shares of the company were exchanged, compared to its average volume of 1,309,019. The firm has a market cap of $27,304.97, a PE ratio of 16.70, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. Cummins has a 1-year low of $134.06 and a 1-year high of $181.79.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.24. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the company posted $2.02 EPS. equities analysts predict that Cummins will post 10.19 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pinnacle Bank bought a new position in Cummins during the 1st quarter worth approximately $105,000. Carroll Financial Associates Inc. boosted its stake in Cummins by 13.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after acquiring an additional 83 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Cummins during the 3rd quarter worth approximately $132,000. Cohen Capital Management Inc. bought a new position in Cummins during the 1st quarter worth approximately $121,000. Finally, Captrust Financial Advisors bought a new position in Cummins during the 2nd quarter worth approximately $137,000. 82.51% of the stock is currently owned by institutional investors.

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Cummins Company Profile

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.

The Fly

Analyst Recommendations for Cummins (NYSE:CMI)

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