Cummins Inc. (NYSE:CMI) had its price target hoisted by Royal Bank Of Canada from $169.00 to $173.00 in a report issued on Thursday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 0.04% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. Jefferies Group LLC increased their price objective on Cummins from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday. Robert W. Baird reiterated a “sell” rating and set a $155.00 price objective on shares of Cummins in a report on Wednesday. Buckingham Research increased their price objective on Cummins from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Jaffray Companies set a $170.00 price objective on Cummins and gave the stock a “hold” rating in a report on Tuesday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $190.00 price objective (up from $186.00) on shares of Cummins in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $168.91.
Cummins (NYSE CMI) traded up $0.24 during trading hours on Thursday, hitting $173.07. The company had a trading volume of 1,463,467 shares, compared to its average volume of 1,070,000. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.15 and a current ratio of 1.57. The company has a market capitalization of $28.72 billion, a P/E ratio of 17.59, a PEG ratio of 1.40 and a beta of 1.16. Cummins has a fifty-two week low of $121.43 and a fifty-two week high of $181.79.
Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.47 by $0.24. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. Cummins’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the company earned $2.02 earnings per share. research analysts anticipate that Cummins will post 10.04 EPS for the current year.
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In other news, Director Franklin R. Changdiaz sold 1,633 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the completion of the sale, the director now directly owns 5,814 shares of the company’s stock, valued at $925,995.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.62% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CMI. BlackRock Inc. lifted its position in shares of Cummins by 2,874.8% in the first quarter. BlackRock Inc. now owns 10,211,140 shares of the company’s stock valued at $1,543,924,000 after buying an additional 9,867,890 shares during the last quarter. Boston Partners acquired a new stake in Cummins during the 3rd quarter worth approximately $416,229,000. AJO LP lifted its holdings in Cummins by 11,096.3% during the 2nd quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after purchasing an additional 1,139,586 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Cummins by 434.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,380,233 shares of the company’s stock worth $223,902,000 after purchasing an additional 1,121,833 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Cummins by 82.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,969,135 shares of the company’s stock worth $319,426,000 after purchasing an additional 890,404 shares during the last quarter. 81.05% of the stock is owned by institutional investors.
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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