Traders Sell Shares of Cummins (CMI) on Strength (CMI)
Traders sold shares of Cummins Inc. (NYSE:CMI) on strength during trading hours on Friday. $34.17 million flowed into the stock on the tick-up and $115.77 million flowed out of the stock on the tick-down, for a money net flow of $81.60 million out of the stock. Of all companies tracked, Cummins had the 0th highest net out-flow for the day. Cummins traded up $0.28 for the day and closed at $184.18
CMI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $190.00 price objective (up from $186.00) on shares of Cummins in a report on Wednesday, November 1st. Citigroup upped their price objective on Cummins from $175.00 to $183.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Robert W. Baird reiterated a “sell” rating and issued a $153.00 price objective on shares of Cummins in a report on Thursday, October 12th. Finally, Royal Bank of Canada upped their price objective on Cummins from $169.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $178.69.
The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $30,567.80, a P/E ratio of 18.70, a P/E/G ratio of 1.32 and a beta of 1.14.
Large investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC acquired a new position in Cummins during the third quarter worth $132,000. Captrust Financial Advisors acquired a new position in Cummins during the second quarter worth $137,000. Acrospire Investment Management LLC acquired a new position in Cummins during the second quarter worth $146,000. Bank of Nova Scotia Trust Co. acquired a new position in Cummins during the third quarter worth $168,000. Finally, Krilogy Financial LLC acquired a new position in Cummins during the third quarter worth $168,000. Institutional investors own 82.31% of the company’s stock.
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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.
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