Cummins (NYSE:CMI) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Cummins (NYSE:CMI) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Several other analysts have also commented on CMI. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group raised their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $383.08.

Cummins Trading Down 0.2 %

Shares of Cummins stock opened at $369.22 on Thursday. Cummins has a 52-week low of $247.23 and a 52-week high of $387.90. The firm has a market capitalization of $50.65 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company’s fifty day moving average price is $361.92 and its two-hundred day moving average price is $334.98.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.14 earnings per share. On average, analysts expect that Cummins will post 20.62 EPS for the current year.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,540,879.47. This represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 6,328 shares of company stock worth $2,300,040 in the last quarter. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Cummins

A number of institutional investors and hedge funds have recently modified their holdings of the business. Czech National Bank raised its position in shares of Cummins by 7.1% during the 3rd quarter. Czech National Bank now owns 27,918 shares of the company’s stock valued at $9,040,000 after acquiring an additional 1,854 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of Cummins by 9.1% during the third quarter. Atomi Financial Group Inc. now owns 1,338 shares of the company’s stock worth $433,000 after purchasing an additional 112 shares during the period. Daymark Wealth Partners LLC increased its holdings in Cummins by 19.4% in the third quarter. Daymark Wealth Partners LLC now owns 7,061 shares of the company’s stock valued at $2,286,000 after purchasing an additional 1,149 shares during the last quarter. CWM LLC lifted its stake in Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares during the period. Finally, Wedmont Private Capital boosted its holdings in Cummins by 8.3% during the third quarter. Wedmont Private Capital now owns 1,330 shares of the company’s stock worth $441,000 after buying an additional 102 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.