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.
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.
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