Cummins Inc. (NYSE:CMI) had its price objective boosted by stock analysts at Argus to $195.00 in a report released on Monday. The brokerage currently has a “buy” rating on the stock. Argus’ price objective suggests a potential upside of 12.67% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of Cummins from $169.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday. Jefferies Group LLC increased their price target on shares of Cummins from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird reissued a “sell” rating and set a $155.00 price target on shares of Cummins in a report on Wednesday, November 1st. Buckingham Research increased their price target on shares of Cummins from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $170.00 price target on shares of Cummins and gave the stock a “hold” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. Cummins currently has a consensus rating of “Hold” and a consensus target price of $170.28.

Shares of Cummins (NYSE CMI) opened at $173.07 on Monday. The firm has a market cap of $28,724.00, a PE ratio of 17.57, a PEG ratio of 1.39 and a beta of 1.16. Cummins has a 12 month low of $121.43 and a 12 month high of $181.79. 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 (NYSE:CMI) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.24. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 earnings per share. research analysts expect that Cummins will post 10.09 EPS for the current fiscal year.

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In other Cummins news, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $159.27, for a total value of $260,087.91. Following the transaction, the director now owns 5,814 shares in the company, valued at approximately $925,995.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Johanson Financial Advisors Inc. lifted its holdings in shares of Cummins by 0.4% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 1,843 shares of the company’s stock valued at $303,000 after acquiring an additional 7 shares in the last quarter. Good Life Advisors LLC lifted its holdings in shares of Cummins by 0.6% during the 2nd quarter. Good Life Advisors LLC now owns 1,481 shares of the company’s stock valued at $243,000 after acquiring an additional 9 shares in the last quarter. Northwest Quadrant Wealth Management LLC lifted its holdings in shares of Cummins by 0.5% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 2,251 shares of the company’s stock valued at $360,000 after acquiring an additional 11 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Cummins by 1.1% during the 2nd quarter. Bessemer Group Inc. now owns 1,148 shares of the company’s stock valued at $187,000 after acquiring an additional 12 shares in the last quarter. Finally, Texas Yale Capital Corp. lifted its holdings in shares of Cummins by 1.3% during the 2nd quarter. Texas Yale Capital Corp. now owns 2,016 shares of the company’s stock valued at $327,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 81.94% of the company’s stock.

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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