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.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The company’s revenue was up 21.6% on a year-over-year basis. research analysts expect that Cummins will post 11.84 earnings per share for the current year.

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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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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