Cummins (NYSE:CMI) Price Target Increased to $285.00 by Analysts at Citigroup

Cummins (NYSE:CMIFree Report) had its target price raised by Citigroup from $265.00 to $285.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also weighed in on CMI. Morgan Stanley began coverage on Cummins in a report on Monday, January 8th. They issued an overweight rating and a $278.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Cummins from $255.00 to $245.00 and set an underweight rating on the stock in a report on Thursday, January 18th. TheStreet lowered Cummins from an a- rating to a c+ rating in a report on Tuesday, February 6th. Bank of America downgraded Cummins from a neutral rating to an underperform rating and reduced their price objective for the company from $243.00 to $225.00 in a research report on Friday, January 19th. Finally, StockNews.com downgraded Cummins from a strong-buy rating to a buy rating in a research report on Saturday, December 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $261.11.

View Our Latest Analysis on CMI

Cummins Trading Up 2.0 %

Shares of CMI stock opened at $256.83 on Monday. The business’s fifty day moving average price is $239.49 and its 200 day moving average price is $233.15. Cummins has a 1-year low of $203.18 and a 1-year high of $265.28. The firm has a market capitalization of $36.40 billion, a PE ratio of 49.58, a P/E/G ratio of 1.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMIGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company posted $4.52 EPS. As a group, sell-side analysts forecast that Cummins will post 18.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Cummins

Large investors have recently modified their holdings of the stock. Bison Wealth LLC grew its stake in Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock valued at $293,000 after purchasing an additional 42 shares in the last quarter. Haverford Trust Co lifted its holdings in shares of Cummins by 2.3% in the 2nd quarter. Haverford Trust Co now owns 1,921 shares of the company’s stock worth $471,000 after purchasing an additional 44 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Cummins by 1.9% in the 2nd quarter. Prospera Financial Services Inc now owns 2,370 shares of the company’s stock worth $582,000 after purchasing an additional 45 shares during the last quarter. KB Financial Partners LLC lifted its holdings in shares of Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after purchasing an additional 45 shares during the last quarter. Finally, Edmp Inc. raised its stake in Cummins by 0.8% during the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

About Cummins

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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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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