Cummins Inc. (NYSE:CMI) has received a consensus rating of “Hold” from the twenty-two research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $186.24.
CMI has been the topic of a number of research reports. ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Barclays reaffirmed an “equal weight” rating and set a $191.00 target price (up from $180.00) on shares of Cummins in a research report on Wednesday, January 24th. Oppenheimer raised their target price on shares of Cummins to $207.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $182.00 target price on shares of Cummins in a research report on Monday. Finally, Citigroup raised their target price on shares of Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday.
Cummins (CMI) traded down $1.68 during trading hours on Friday, hitting $164.05. The stock had a trading volume of 2,808,689 shares, compared to its average volume of 1,523,181. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The stock has a market cap of $26,850.00, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14. Cummins has a 52-week low of $143.83 and a 52-week high of $194.18.
Hedge funds have recently modified their holdings of the stock. Boston Partners acquired a new stake in Cummins in the third quarter valued at approximately $416,229,000. BlackRock Inc. boosted its stake in Cummins by 8.3% in the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after acquiring an additional 898,512 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in Cummins by 203.7% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 926,242 shares of the company’s stock valued at $155,636,000 after acquiring an additional 621,292 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Cummins by 107.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,186,164 shares of the company’s stock valued at $209,524,000 after acquiring an additional 613,102 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Cummins by 272.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 639,800 shares of the company’s stock valued at $113,014,000 after acquiring an additional 468,200 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/09/cummins-inc-cmi-given-average-recommendation-of-hold-by-brokerages.html.
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.
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.