Investment analysts at Barclays started coverage on shares of Cummins (NYSE:CMI) in a research report issued on Tuesday. The brokerage set an “equal weight” rating and a $180.00 price target on the stock. Barclays’ target price indicates a potential upside of 6.03% from the company’s previous close.
Several other equities research analysts have also recently weighed in on CMI. Piper Jaffray Companies set a $175.00 target price on shares of Cummins and gave the company a “hold” rating in a research note on Sunday. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Monday, October 2nd. Oppenheimer assumed coverage on shares of Cummins in a research report on Thursday, December 7th. They issued an “outperform” rating and a $192.00 price target for the company. Stifel Nicolaus reissued a “hold” rating and issued a $190.00 price target (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Finally, Citigroup increased their price target on shares of Cummins from $175.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $178.69.
Cummins (NYSE CMI) traded up $0.55 during midday trading on Tuesday, hitting $169.77. 257,532 shares of the company traded hands, compared to its average volume of 1,315,728. 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 has a twelve month low of $134.06 and a twelve month high of $181.79. The company has a market capitalization of $28,342.27, a PE ratio of 17.34, a PEG ratio of 1.41 and a beta of 1.13.
Several hedge funds and other institutional investors have recently bought and sold shares of CMI. Boston Partners acquired a new stake in shares of Cummins during the third quarter worth approximately $416,229,000. AJO LP increased its holdings in shares of Cummins by 11,096.3% during the second 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 in the last quarter. Franklin Resources Inc. increased its holdings in shares of Cummins by 434.1% during the second quarter. Franklin Resources Inc. now owns 1,380,233 shares of the company’s stock worth $223,902,000 after buying an additional 1,121,833 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Cummins by 82.5% during the second quarter. Ameriprise Financial Inc. now owns 1,969,135 shares of the company’s stock worth $319,426,000 after buying an additional 890,404 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Cummins by 784.9% during the second quarter. Janus Henderson Group PLC now owns 784,776 shares of the company’s stock worth $127,307,000 after buying an additional 696,090 shares in the last quarter. 82.50% of the stock is 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.
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