Cummins (NYSE:CMI) has been given a $175.00 price target by research analysts at Piper Jaffray Companies in a report issued on Sunday. The brokerage currently has a “hold” rating on the stock. Piper Jaffray Companies’ target price would indicate a potential upside of 2.41% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus restated a “hold” rating and set a $190.00 price objective (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Buckingham Research assumed coverage on shares of Cummins in a research report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price objective on the stock. BMO Capital Markets increased 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. Jefferies Group increased their price objective on shares of Cummins from $165.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Finally, ValuEngine downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $176.69.

Shares of Cummins (CMI) traded up $1.58 during midday trading on Friday, hitting $170.88. 1,115,100 shares of the stock traded hands, compared to its average volume of 1,313,903. The company has a market capitalization of $28,400.00, a P/E ratio of 17.35, a PEG ratio of 1.41 and a beta of 1.13. Cummins has a 52-week low of $134.06 and a 52-week high of $181.79. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMI. Northwest Investment Counselors LLC bought a new position in Cummins in the third quarter worth approximately $132,000. Captrust Financial Advisors purchased a new stake in shares of Cummins in the second quarter worth $137,000. Acrospire Investment Management LLC purchased a new stake in shares of Cummins in the second quarter worth $146,000. First Interstate Bank increased its stake in shares of Cummins by 2.7% in the second quarter. First Interstate Bank now owns 956 shares of the company’s stock worth $155,000 after purchasing an additional 25 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. purchased a new stake in shares of Cummins in the third quarter worth $168,000. Institutional investors and hedge funds own 82.50% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/12/11/cummins-cmi-given-a-175-00-price-target-by-piper-jaffray-companies-analysts.html.

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)

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.