Brokerages Set Cummins (CMI) Price Target at $184.17
Cummins (NYSE:CMI) has been given a consensus recommendation of “Hold” by the twenty-four analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $184.17.
A number of research firms have recently issued reports on CMI. Citigroup increased their price objective on shares of Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Robert W. Baird increased their price objective on shares of Cummins from $157.00 to $159.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 7th. Deutsche Bank set a $169.00 price objective on shares of Cummins and gave the stock a “sell” rating in a research report on Monday, February 5th. William Blair reissued a “hold” rating on shares of Cummins in a research report on Tuesday, February 13th. Finally, Barclays reissued an “equal weight” rating and set a $191.00 price objective (up previously from $180.00) on shares of Cummins in a research report on Wednesday, January 24th.
Institutional investors have recently bought and sold shares of the business. Hall Laurie J Trustee increased its stake in shares of Cummins by 841.7% during the 4th quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after purchasing an additional 2,020 shares during the last quarter. Risk Paradigm Group LLC purchased a new stake in shares of Cummins during the 4th quarter worth approximately $127,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Cummins during the 4th quarter worth approximately $205,000. Cadence Bank NA purchased a new stake in shares of Cummins during the 4th quarter worth approximately $205,000. Finally, Stock Yards Bank & Trust Co. purchased a new stake in shares of Cummins during the 4th quarter worth approximately $206,000. 83.50% of the stock is currently owned by hedge funds and other institutional investors.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.38. The company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.25 EPS. sell-side analysts expect that Cummins will post 12.62 EPS for the current fiscal year.
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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