Seaport Global Securities started coverage on shares of Cummins Inc. (NYSE:CMI) in a research report issued on Thursday. The brokerage set a “neutral” rating on the stock.
Several other research analysts have also recently issued reports on CMI. Vetr cut shares of Cummins from a “hold” rating to a “sell” rating and set a $134.06 target price on the stock. in a report on Tuesday, December 13th. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Tuesday, January 31st. BMO Capital Markets restated a “hold” rating and issued a $150.00 target price on shares of Cummins in a report on Friday, January 13th. Credit Suisse Group AG set a $173.00 target price on shares of Cummins and gave the stock a “buy” rating in a report on Monday, March 27th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $140.00 price target on shares of Cummins in a report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Cummins presently has an average rating of “Hold” and a consensus target price of $141.35.
Cummins (NYSE:CMI) traded down 0.19% during mid-day trading on Thursday, reaching $145.86. 646,431 shares of the company were exchanged. The company’s 50 day moving average price is $150.40 and its 200-day moving average price is $141.55. The stock has a market capitalization of $24.43 billion, a price-to-earnings ratio of 17.72 and a beta of 1.27. Cummins has a 12-month low of $105.33 and a 12-month high of $155.51.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, February 9th. The company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cummins had a net margin of 7.96% and a return on equity of 19.99%. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period last year, the business earned $2.02 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts forecast that Cummins will post $7.98 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Pinnacle Bank acquired a new stake in Cummins during the first quarter valued at approximately $105,000. Itau Unibanco Holding S.A. acquired a new stake in Cummins during the third quarter valued at approximately $114,000. Cohen Capital Management Inc. acquired a new stake in Cummins during the first quarter valued at approximately $121,000. First Manhattan Co. increased its stake in Cummins by 4.2% in the third quarter. First Manhattan Co. now owns 997 shares of the company’s stock valued at $127,000 after buying an additional 40 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Cummins by 851.0% in the fourth quarter. Bessemer Group Inc. now owns 951 shares of the company’s stock valued at $130,000 after buying an additional 851 shares during the last quarter. Institutional investors own 80.81% of the company’s stock.
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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