Analysts at Oppenheimer assumed coverage on shares of Cummins (NYSE:CMI) in a research note issued on Thursday. The firm set an “outperform” rating and a $192.00 price target on the stock. Oppenheimer’s price objective points to a potential upside of 16.10% from the company’s current price.

CMI has been the subject of several other research reports. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Royal Bank Of Canada upped their target price on Cummins from $169.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 2nd. Robert W. Baird reaffirmed a “sell” rating and issued a $153.00 target price on shares of Cummins in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $165.00 target price on shares of Cummins in a research report on Thursday, September 7th. Finally, Piper Jaffray Companies set a $170.00 target price on Cummins and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $176.41.

Shares of Cummins (NYSE:CMI) opened at $165.38 on Thursday. Cummins has a 1 year low of $134.06 and a 1 year high of $181.79. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $27,358.08, a PE ratio of 16.74, a PEG ratio of 1.32 and a beta of 1.13.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. The company’s revenue was up 26.2% compared to the same quarter last year. research analysts expect that Cummins will post 10.19 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its holdings in Cummins by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock worth $38,617,000 after buying an additional 3,700 shares during the last quarter. AJO LP lifted its holdings in Cummins by 11,096.3% during the 2nd quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after buying an additional 1,139,586 shares during the last quarter. Kirr Marbach & Co. LLC IN bought a new position in Cummins during the 3rd quarter worth approximately $255,000. AGF Investments America Inc. lifted its holdings in Cummins by 41.5% during the 2nd quarter. AGF Investments America Inc. now owns 38,653 shares of the company’s stock worth $6,270,000 after buying an additional 11,338 shares during the last quarter. Finally, Boston Partners bought a new position in Cummins during the 3rd quarter worth approximately $416,229,000. 82.50% of the stock is currently owned by institutional investors.

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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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