Cummins (NYSE:CMI) had its price target hoisted by equities researchers at Oppenheimer to $207.00 in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 11.64% from the company’s previous close.
Other analysts have also issued research reports about the stock. Argus boosted their price objective on shares of Cummins from $172.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Buckingham Research boosted their target price on shares of Cummins from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Bank of America upgraded shares of Cummins from a “neutral” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Friday, January 19th. ValuEngine upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Friday. Finally, Barclays started coverage on shares of Cummins in a report on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 target price on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $182.91.
Shares of Cummins (CMI) traded down $3.75 on Friday, reaching $185.42. 781,265 shares of the company’s stock were exchanged, compared to its average volume of 1,232,297. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57. Cummins has a 1 year low of $143.83 and a 1 year high of $194.18. The company has a market capitalization of $31,040.00, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.28 and a beta of 1.14.
Institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cummins by 1.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock worth $38,617,000 after acquiring an additional 3,700 shares during the last quarter. Kirr Marbach & Co. LLC IN bought a new position in shares of Cummins in the third quarter worth about $255,000. Boston Partners bought a new position in shares of Cummins in the third quarter worth about $416,229,000. FDx Advisors Inc. bought a new position in shares of Cummins in the third quarter worth about $685,000. Finally, IFM Investors Pty Ltd bought a new position in shares of Cummins in the third quarter worth about $742,000. 82.44% of the stock is owned by institutional investors.
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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.
