Shares of Cummins Inc. (NYSE:CMI) have been given a consensus rating of “Hold” by the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $188.18.

Several brokerages recently commented on CMI. Credit Suisse Group cut their price objective on shares of Cummins from $208.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. TheStreet downgraded shares of Cummins from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. Stifel Nicolaus reissued a “hold” rating and set a $182.00 price objective on shares of Cummins in a research report on Monday, February 5th. ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank set a $169.00 price objective on shares of Cummins and gave the company a “sell” rating in a research report on Monday, February 5th.

Shares of Cummins (CMI) traded up $1.44 during mid-day trading on Friday, reaching $165.49. 314,674 shares of the company traded hands, compared to its average volume of 1,473,974. Cummins has a one year low of $143.83 and a one year high of $194.18. The stock has a market cap of $27,226.97, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.14. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the firm posted $2.25 EPS. Cummins’s revenue for the quarter was up 21.6% on a year-over-year basis. analysts anticipate that Cummins will post 12.44 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in CMI. Boston Partners purchased a new position in shares of Cummins in the third quarter worth approximately $416,229,000. BlackRock Inc. boosted its holdings in shares of Cummins by 8.3% in 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 during the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Cummins by 203.7% in the third 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 last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Cummins by 107.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,186,164 shares of the company’s stock worth $209,524,000 after buying an additional 613,102 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cummins by 272.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 639,800 shares of the company’s stock worth $113,014,000 after buying an additional 468,200 shares during the last quarter. 83.06% of the stock is currently owned by hedge funds and other institutional investors.

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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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