Credit Suisse Group Trims Cummins (CMI) Target Price to $205.00

Cummins (NYSE:CMI) had its price objective trimmed by Credit Suisse Group from $208.00 to $205.00 in a research note released on Wednesday morning. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on CMI. Seaport Global Securities reaffirmed a neutral rating on shares of Cummins in a research report on Tuesday, January 16th. Stifel Nicolaus reaffirmed a hold rating and set a $190.00 price target (up from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Cummins from a buy rating to a hold rating in a research report on Tuesday, January 2nd. Citigroup upped their price target on Cummins from $185.00 to $200.00 and gave the stock a neutral rating in a research report on Monday, February 5th. Finally, BMO Capital Markets boosted their price objective on shares of Cummins from $185.00 to $190.00 and gave the company a market perform rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $188.18.

Cummins (NYSE:CMI) opened at $164.05 on Wednesday. The stock has a market capitalization of $27,505.79, a price-to-earnings ratio of 27.57, a PEG ratio of 1.18 and a beta of 1.14. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cummins has a 12-month low of $143.83 and a 12-month high of $194.18.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.25 earnings per share. equities research analysts anticipate that Cummins will post 12.29 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Cummins by 8.3% in the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after purchasing an additional 898,512 shares during the last quarter. Boston Partners boosted its holdings in Cummins by 33.1% in the fourth quarter. Boston Partners now owns 3,296,825 shares of the company’s stock valued at $582,351,000 after purchasing an additional 819,719 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Cummins by 5.4% in the fourth quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock valued at $303,894,000 after purchasing an additional 105,100 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Cummins by 2.0% in the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after purchasing an additional 39,674 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Cummins by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,991,974 shares of the company’s stock valued at $351,862,000 after purchasing an additional 17,704 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors.

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Cummins Company Profile

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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