Cummins (CMI) Stock Rating Lowered by TheStreet

Cummins (NYSE:CMI) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently weighed in on the company. Goldman Sachs Group cut Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, November 30th. BMO Capital Markets raised their price objective on Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a research note on Wednesday, November 8th. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Barclays initiated coverage on Cummins in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 price objective on the stock. Finally, Oppenheimer initiated coverage on Cummins in a research note on Thursday, December 7th. They set an “outperform” rating and a $192.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $188.18.

Shares of Cummins (CMI) traded down $1.68 during trading hours on Tuesday, reaching $164.05. The company’s stock had a trading volume of 2,801,999 shares, compared to its average volume of 1,460,000. 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 fifty-two week low of $143.83 and a fifty-two week high of $194.18. The company has a market cap of $27,230.00, a PE ratio of 27.62, a PEG ratio of 1.17 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.38. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same period last year, the business earned $2.25 EPS. The business’s revenue was up 21.6% on a year-over-year basis. equities research analysts forecast that Cummins will post 12.44 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMI. Hall Laurie J Trustee raised its stake in shares of Cummins by 841.7% during the 4th quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after purchasing an additional 2,020 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Cummins during the 3rd quarter worth $132,000. Bank of Nova Scotia Trust Co. bought a new stake in shares of Cummins during the 3rd quarter worth $168,000. Krilogy Financial LLC bought a new stake in shares of Cummins during the 3rd quarter worth $168,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Cummins during the 3rd quarter worth $201,000. Institutional investors own 82.46% of the company’s stock.

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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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