Cummins (NYSE:CMI)‘s stock had its “hold” rating reiterated by William Blair in a research report issued to clients and investors on Tuesday.
Several other equities analysts also recently issued reports on the company. Goldman Sachs Group downgraded Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, November 30th. BMO Capital Markets upped their target price on Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 8th. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Oppenheimer assumed coverage on Cummins in a research report on Thursday, December 7th. They issued an “outperform” rating and a $192.00 target price for the company. Finally, Barclays assumed coverage on Cummins in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $180.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $188.18.
Shares of Cummins (NYSE:CMI) traded down $0.14 during midday trading on Tuesday, hitting $165.63. The stock had a trading volume of 1,176,351 shares, compared to its average volume of 1,500,000. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.57. The firm has a market capitalization of $27,490.00, a P/E ratio of 27.88, a PEG ratio of 1.16 and a beta of 1.14. Cummins has a fifty-two week low of $143.83 and a fifty-two week high of $194.18.
Large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in shares of Cummins by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock valued at $38,617,000 after acquiring an additional 3,700 shares during the last quarter. Kirr Marbach & Co. LLC IN acquired a new stake in shares of Cummins during the 3rd quarter valued at $255,000. Boston Partners acquired a new stake in shares of Cummins during the 3rd quarter valued at $416,229,000. FDx Advisors Inc. acquired a new stake in shares of Cummins during the 3rd quarter valued at $685,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Cummins during the 3rd quarter valued at $742,000. Institutional investors own 83.06% of the company’s stock.
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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