Piper Jaffray Companies Analysts Give Cummins (CMI) a $175.00 Price Target

Piper Jaffray Companies set a $175.00 price objective on Cummins (NYSE:CMI) in a report issued on Sunday morning. The firm currently has a hold rating on the stock.

Several other research analysts have also commented on CMI. Zacks Investment Research upgraded Cummins from a hold rating to a buy rating and set a $188.00 price target for the company in a research report on Monday, October 2nd. Oppenheimer began coverage on Cummins in a research report on Thursday, December 7th. They set an outperform rating and a $192.00 price target for the company. Stifel Nicolaus restated a hold rating and set a $190.00 price target (up from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Citigroup raised their price target on Cummins from $175.00 to $183.00 and gave the stock a neutral rating in a research report on Friday, October 13th. Finally, Robert W. Baird restated a sell rating and set a $153.00 price target on shares of Cummins in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. Cummins presently has an average rating of Hold and an average target price of $178.69.

Cummins (NYSE:CMI) opened at $169.58 on Friday. Cummins has a 52-week low of $134.06 and a 52-week high of $181.79. The company has a market capitalization of $28,342.27, a price-to-earnings ratio of 17.34, a PEG ratio of 1.41 and a beta of 1.13. 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 (NYSE:CMI) last released its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same period last year, the business posted $2.02 earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis. equities research analysts predict that Cummins will post 10.19 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, November 16th. Cummins’s dividend payout ratio is presently 43.86%.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Cummins by 2.6% during the second quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock worth $1,884,074,000 after purchasing an additional 298,352 shares in the last quarter. BlackRock Inc. increased its position in shares of Cummins by 4.1% during the second quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock worth $1,724,930,000 after purchasing an additional 422,135 shares in the last quarter. American Century Companies Inc. increased its position in shares of Cummins by 2.9% during the second quarter. American Century Companies Inc. now owns 2,710,712 shares of the company’s stock worth $439,732,000 after purchasing an additional 77,116 shares in the last quarter. Boston Partners acquired a new stake in shares of Cummins during the third quarter worth about $416,229,000. Finally, First Eagle Investment Management LLC increased its position in shares of Cummins by 2.0% during the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock worth $335,701,000 after purchasing an additional 39,674 shares in the last quarter. Institutional investors own 82.50% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Piper Jaffray Companies Analysts Give Cummins (CMI) a $175.00 Price Target” was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://www.com-unik.info/2017/12/14/piper-jaffray-companies-analysts-give-cummins-cmi-a-175-00-price-target.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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit