Cummins Inc. (CMI) Receives Sell Rating from Robert W. Baird

Cummins Inc. (NYSE:CMI)‘s stock had its “sell” rating restated by analysts at Robert W. Baird in a research note issued on Wednesday. They presently have a $155.00 price target on the stock. Robert W. Baird’s target price indicates a potential downside of 12.37% from the company’s current price.

Several other analysts also recently commented on CMI. Deutsche Bank AG raised their target price on shares of Cummins from $139.00 to $142.00 and gave the stock a “sell” rating in a report on Tuesday, July 4th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Cummins in a research note on Tuesday, July 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $166.00 target price on shares of Cummins in a research note on Wednesday, July 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $161.00 target price on shares of Cummins in a research note on Wednesday, July 12th. Finally, Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Cummins currently has an average rating of “Hold” and an average target price of $168.52.

Cummins (NYSE CMI) traded down 2.01% on Wednesday, hitting $173.32. 1,155,500 shares of the stock traded hands. Cummins has a 12-month low of $121.22 and a 12-month high of $181.79. The company’s 50 day moving average price is $171.72 and its 200-day moving average price is $161.67. The stock has a market capitalization of $28.94 billion, a P/E ratio of 19.59 and a beta of 1.13.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.24. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a net margin of 8.10% and a return on equity of 20.67%. Cummins’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period last year, the company posted $2.02 EPS. Analysts predict that Cummins will post $7.98 EPS for the current year.

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In related news, Director Franklin R. Changdiaz sold 1,633 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the completion of the transaction, the director now owns 5,814 shares of the company’s stock, valued at $925,995.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in Cummins by 0.5% in the first quarter. State Street Corp now owns 12,238,897 shares of the company’s stock valued at $1,850,515,000 after acquiring an additional 61,286 shares during the last quarter. Vanguard Group Inc. grew its position in Cummins by 2.6% in the second quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock valued at $1,884,074,000 after acquiring an additional 298,352 shares during the last quarter. BlackRock Inc. grew its position in Cummins by 4.1% in the second quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock valued at $1,724,930,000 after acquiring an additional 422,135 shares during the last quarter. American Century Companies Inc. grew its position in Cummins by 2.9% in the second quarter. American Century Companies Inc. now owns 2,710,712 shares of the company’s stock valued at $439,732,000 after acquiring an additional 77,116 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Cummins by 9.0% in the first quarter. AQR Capital Management LLC now owns 2,486,266 shares of the company’s stock valued at $375,924,000 after acquiring an additional 205,659 shares during the last quarter. Hedge funds and other institutional investors own 81.05% of the company’s stock.

About Cummins

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.

Analyst Recommendations for Cummins (NYSE:CMI)

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