Cummins’ (CMI) “Hold” Rating Reiterated at William Blair

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.

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

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.

WARNING: “Cummins’ (CMI) “Hold” Rating Reiterated at William Blair” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/13/cummins-cmi-hold-rating-reiterated-at-william-blair.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.

Analyst Recommendations for Cummins (NYSE:CMI)

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.

Leave a Reply