Cummins (CMI) Downgraded by TheStreet
Cummins (NYSE:CMI) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Tuesday.
Other equities analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday. Robert W. Baird boosted their target price on shares of Cummins from $157.00 to $159.00 and gave the stock an “underperform” rating in a research note on Wednesday. Credit Suisse Group dropped their target price on shares of Cummins from $208.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday. Oppenheimer began coverage on shares of Cummins in a research note on Thursday, December 7th. They issued an “outperform” rating and a $192.00 target price for the company. Finally, Deutsche Bank set a $169.00 target price on shares of Cummins and gave the stock a “sell” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $185.96.
Shares of Cummins (CMI) traded down $1.54 during midday trading on Tuesday, hitting $171.20. 141,963 shares of the company’s stock were exchanged, compared to its average volume of 1,387,843. Cummins has a one year low of $143.83 and a one year high of $194.18. The company has a market capitalization of $28,480.00, a P/E ratio of 28.89, a PEG ratio of 1.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new position in Cummins during the third quarter valued at approximately $132,000. Bank of Nova Scotia Trust Co. acquired a new position in Cummins during the third quarter valued at approximately $168,000. Krilogy Financial LLC acquired a new position in Cummins during the third quarter valued at approximately $168,000. SeaCrest Wealth Management LLC acquired a new position in Cummins during the fourth quarter valued at approximately $205,000. Finally, Stock Yards Bank & Trust Co. acquired a new position in Cummins during the fourth quarter valued at approximately $206,000. 82.46% of the stock is owned by institutional investors and hedge funds.
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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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