Cummins Inc. (NYSE:CMI) Receives Average Rating of “Hold” from Analysts

Shares of Cummins Inc. (NYSE:CMI) have been given an average rating of “Hold” by the thirteen brokerages that are currently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $374.17.

A number of equities analysts recently issued reports on CMI shares. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Truist Financial lifted their price target on Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group boosted their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Cummins Price Performance

Shares of NYSE CMI opened at $360.80 on Thursday. Cummins has a twelve month low of $226.52 and a twelve month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $362.81 and a two-hundred day moving average of $326.21. The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.78 and a beta of 0.99.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $4.73 earnings per share. As a group, analysts expect that Cummins will post 20.75 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Cummins in the 3rd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins during the 3rd quarter worth $34,000. Friedenthal Financial bought a new position in shares of Cummins during the 4th quarter valued at $55,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at $55,000. Finally, Bangor Savings Bank boosted its holdings in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

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.