Cummins Inc. (CMI) Given Average Recommendation of “Hold” by Brokerages

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.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.65 by $0.38. The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. Cummins’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 EPS. research analysts anticipate that Cummins will post 11.94 earnings per share for the current year.

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.

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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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