Cummins (CMI) Price Target Cut to $164.00

Cummins (NYSE:CMI) had its price objective lowered by analysts at JPMorgan Chase from $176.00 to $164.00 in a report issued on Tuesday, April 10th. The firm presently has a “neutral” rating on the stock. JPMorgan Chase’s price target suggests a potential downside of 2.07% from the stock’s previous close.

A number of other equities analysts have also recently commented on CMI. Barclays began coverage on Cummins in a report on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 price target for the company. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Seaport Global Securities reissued a “neutral” rating on shares of Cummins in a report on Tuesday, January 16th. Bank of America raised Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a report on Friday, January 19th. Finally, ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $184.21.

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Shares of NYSE CMI opened at $167.47 on Tuesday. The firm has a market capitalization of $27,614.43, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.16 and a beta of 1.22. 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 has a fifty-two week low of $143.83 and a fifty-two week high of $194.18.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.38. The firm had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 EPS. equities research analysts forecast that Cummins will post 12.6 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Hall Laurie J Trustee raised its stake in 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 buying an additional 2,020 shares during the period. Risk Paradigm Group LLC acquired a new position in Cummins during the 4th quarter worth approximately $127,000. Krilogy Financial LLC acquired a new position in Cummins during the 3rd quarter worth approximately $168,000. EagleClaw Capital Managment LLC acquired a new position in Cummins during the 3rd quarter worth approximately $201,000. Finally, Cadence Bank NA acquired a new position in Cummins during the 4th quarter worth approximately $205,000. Institutional investors own 84.18% of the company’s stock.

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About Cummins

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.

Analyst Recommendations for Cummins (NYSE:CMI)

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