Cummins (NYSE:CMI)‘s stock had its “buy” rating reissued by research analysts at Wells Fargo & Co in a research note issued to investors on Thursday. They currently have a $195.00 price objective on the stock, down from their previous price objective of $210.00. Wells Fargo & Co’s price objective indicates a potential upside of 15.02% from the company’s current price.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday. William Blair reissued a “hold” rating on shares of Cummins in a research note on Tuesday, February 13th. TheStreet cut Cummins from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Credit Suisse Group dropped their price objective on Cummins from $208.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Robert W. Baird increased their price objective on Cummins from $157.00 to $159.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $188.47.
Cummins (CMI) opened at $169.53 on Thursday. Cummins has a 52 week low of $143.83 and a 52 week high of $194.18. The stock has a market capitalization of $27,672.42, a P/E ratio of 28.49, a P/E/G ratio of 1.17 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.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hall Laurie J Trustee boosted its position in shares of Cummins by 841.7% in 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 in the last quarter. Risk Paradigm Group LLC acquired a new stake in shares of Cummins in the 4th quarter worth $127,000. Northwest Investment Counselors LLC acquired a new stake in shares of Cummins in the 3rd quarter worth $132,000. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Cummins in the 3rd quarter worth $168,000. Finally, Krilogy Financial LLC acquired a new stake in shares of Cummins in the 3rd quarter worth $168,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.
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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