Cummins (CMI) Stock Rating Reaffirmed by Seaport Global Securities
Seaport Global Securities reiterated their neutral rating on shares of Cummins (NYSE:CMI) in a research report report published on Tuesday. Seaport Global Securities also issued estimates for Cummins’ Q4 2017 earnings at $2.65 EPS, FY2017 earnings at $10.25 EPS, Q1 2018 earnings at $2.89 EPS, Q2 2018 earnings at $3.11 EPS, Q3 2018 earnings at $2.96 EPS, Q4 2018 earnings at $3.01 EPS, FY2018 earnings at $11.96 EPS and FY2019 earnings at $12.95 EPS.
Several other equities analysts have also weighed in on CMI. Zacks Investment Research upgraded shares of Cummins from a hold rating to a buy rating and set a $188.00 target price on the stock in a report on Monday, October 2nd. Stifel Nicolaus reiterated a hold rating and issued a $190.00 target price (up from $186.00) on shares of Cummins in a report on Wednesday, November 1st. Citigroup boosted their target price on shares of Cummins from $175.00 to $183.00 and gave the company a neutral rating in a report on Friday, October 13th. Robert W. Baird reissued a sell rating and issued a $153.00 price target on shares of Cummins in a research note on Thursday, October 12th. Finally, Royal Bank of Canada boosted their price target on shares of Cummins from $169.00 to $173.00 and gave the company a sector perform rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Cummins has a consensus rating of Hold and an average target price of $178.69.
Cummins (NYSE CMI) traded up $0.03 during trading hours on Tuesday, reaching $183.72. 870,290 shares of the company’s stock traded hands, compared to its average volume of 1,212,524. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The firm has a market cap of $30,490.00, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. Cummins has a 12 month low of $140.18 and a 12 month high of $185.27.
Several institutional investors have recently added to or reduced their stakes in the company. Boston Partners purchased a new stake in Cummins during the 3rd quarter worth approximately $416,229,000. Janus Henderson Group PLC increased its stake in Cummins by 784.9% during the 2nd quarter. Janus Henderson Group PLC now owns 784,776 shares of the company’s stock worth $127,307,000 after buying an additional 696,090 shares during the period. Old Mutual Global Investors UK Ltd. increased its stake in Cummins by 203.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 926,242 shares of the company’s stock worth $155,636,000 after buying an additional 621,292 shares during the period. FMR LLC increased its stake in Cummins by 43.8% during the 2nd quarter. FMR LLC now owns 1,989,718 shares of the company’s stock worth $322,772,000 after buying an additional 606,085 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Cummins by 758.7% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 438,203 shares of the company’s stock worth $73,631,000 after buying an additional 387,170 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.
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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.
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