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.

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

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.

Analyst Recommendations for Cummins (NYSE:CMI)

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