Cummins (CMI) Price Target Raised to $159.00

Cummins (NYSE:CMI) had its price objective lifted by Robert W. Baird from $157.00 to $159.00 in a research report released on Wednesday morning. They currently have an underperform rating on the stock.

Several other research analysts also recently commented on the stock. Goldman Sachs Group downgraded shares of 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 boosted their price objective on shares of Cummins from $185.00 to $190.00 and gave the company a market perform rating in a research report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Cummins from a buy rating to a hold rating in a research report on Tuesday, January 2nd. Barclays started coverage on shares of Cummins in a research report on Tuesday, December 12th. They set an equal weight rating and a $180.00 price objective for the company. Finally, Oppenheimer started coverage on shares of Cummins in a research report on Thursday, December 7th. They set an outperform rating and a $192.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $188.18.

Cummins (NYSE:CMI) opened at $164.05 on Wednesday. Cummins has a 1 year low of $143.83 and a 1 year high of $194.18. The company has a market cap of $27,230.00, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.18 and a beta of 1.14. 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 announced its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the business earned $2.25 earnings per share. The company’s revenue was up 21.6% on a year-over-year basis. equities research analysts anticipate that Cummins will post 12.29 EPS for the current year.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Cummins by 8.3% during the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock worth $2,062,319,000 after buying an additional 898,512 shares in the last quarter. Boston Partners increased its holdings in shares of Cummins by 33.1% during the fourth quarter. Boston Partners now owns 3,296,825 shares of the company’s stock worth $582,351,000 after buying an additional 819,719 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of Cummins by 5.4% during the fourth quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock worth $303,894,000 after buying an additional 105,100 shares in the last quarter. First Eagle Investment Management LLC increased its holdings 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 buying an additional 39,674 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cummins by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,991,974 shares of the company’s stock worth $351,862,000 after buying an additional 17,704 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.

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About Cummins

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)

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