Cummins (CMI) Given a $175.00 Price Target by Piper Jaffray Companies Analysts
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.
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.
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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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