Cummins (NYSE:CMI) Upgraded at StockNews.com

Cummins (NYSE:CMI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Truist Financial raised their target price on Cummins from $303.00 to $319.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. TD Cowen upped their price target on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Evercore ISI increased their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Citigroup increased their price objective on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $282.55.

Cummins Price Performance

Shares of CMI opened at $287.12 on Wednesday. The company has a 50 day moving average of $286.11 and a two-hundred day moving average of $253.84. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a market cap of $39.27 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.52 EPS. As a group, analysts predict that Cummins will post 18.45 earnings per share for the current fiscal year.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock worth $13,576,838 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in Cummins during the third quarter valued at about $25,000. First United Bank & Trust acquired a new position in shares of Cummins during the fourth quarter worth approximately $25,000. Private Wealth Management Group LLC bought a new stake in shares of Cummins in the fourth quarter valued at approximately $26,000. Silver Oak Securities Incorporated acquired a new stake in shares of Cummins in the third quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in Cummins during the fourth quarter worth $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.