Cummins (CMI) PT Lowered to $205.00 at Credit Suisse Group
CMI has been the topic of several other reports. Bank of America upgraded shares of Cummins from a neutral rating to a buy rating and set a $215.00 price objective on the stock in a research report on Friday, January 19th. BMO Capital Markets upped their price objective on shares of Cummins from $185.00 to $190.00 and gave the stock a market perform rating in a research report on Wednesday, November 8th. Argus upped their price objective on shares of Cummins from $172.00 to $195.00 and gave the stock a buy rating in a research report on Monday, November 6th. Jefferies Group upped their price objective on shares of Cummins from $165.00 to $180.00 and gave the stock a hold rating in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $170.00 price objective on shares of Cummins and gave the stock a hold rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $188.18.
Cummins (NYSE:CMI) opened at $164.05 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The firm has a market cap of $27,226.89, a P/E ratio of 15.43, a P/E/G ratio of 1.17 and a beta of 1.14. Cummins has a 52-week low of $143.83 and a 52-week high of $194.18.
Several large investors have recently added to or reduced their stakes in CMI. Hall Laurie J Trustee boosted its stake in shares of Cummins by 841.7% during the fourth quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock valued at $101,000 after purchasing an additional 2,020 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $132,000. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Cummins during the third quarter valued at approximately $168,000. Krilogy Financial LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $168,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $201,000. 82.46% of the stock is owned by hedge funds and other institutional investors.
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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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