Cummins (NYSE:CMI) has been given a $155.00 target price by equities researchers at Mizuho in a research report issued on Saturday. The firm presently has a “hold” rating on the stock. Mizuho’s price objective would indicate a potential upside of 4.53% from the stock’s current price.
CMI has been the topic of several other reports. Oppenheimer reiterated a “market perform” rating and set a $164.00 price target on shares of Cummins in a research report on Thursday. CIBC reissued a “market perform” rating on shares of Cummins in a report on Thursday. Credit Suisse Group reissued a “buy” rating and set a $168.00 price objective on shares of Cummins in a report on Tuesday, January 22nd. Zacks Investment Research lowered Cummins from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, ValuEngine raised Cummins from a “strong sell” rating to a “sell” rating in a report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $161.23.
Shares of CMI opened at $148.28 on Friday. Cummins has a twelve month low of $124.40 and a twelve month high of $173.32. The stock has a market cap of $23.81 billion, a PE ratio of 11.21, a P/E/G ratio of 1.03 and a beta of 1.14. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.19.
Cummins (NYSE:CMI) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $3.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.81 by ($0.33). Cummins had a net margin of 9.01% and a return on equity of 29.71%. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.08 billion. During the same quarter in the prior year, the company earned $3.03 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Cummins will post 15.48 earnings per share for the current fiscal year.
In other Cummins news, CEO Norman Thomas Linebarger sold 24,830 shares of the stock in a transaction on Monday, December 17th. The stock was sold at an average price of $133.19, for a total value of $3,307,107.70. Following the completion of the transaction, the chief executive officer now owns 84,418 shares in the company, valued at $11,243,633.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Tracy A. Embree sold 206 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $150.00, for a total value of $30,900.00. Following the completion of the transaction, the vice president now owns 4,221 shares of the company’s stock, valued at approximately $633,150. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,582 shares of company stock valued at $6,340,889. 0.67% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ipswich Investment Management Co. Inc. purchased a new stake in shares of Cummins in the fourth quarter worth $28,000. We Are One Seven LLC purchased a new stake in shares of Cummins in the fourth quarter worth $37,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Cummins in the fourth quarter worth $38,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Cummins in the fourth quarter worth $42,000. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Cummins by 208.3% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 370 shares of the company’s stock worth $50,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.
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