StockNews.com Initiates Coverage on Cummins (NYSE:CMI)

Equities researchers at StockNews.com started coverage on shares of Cummins (NYSE:CMI – Get Rating) in a report released on Thursday. The firm set a “buy” rating on the stock.

Several other research firms have also weighed in on CMI. Morgan Stanley cut their target price on shares of Cummins from $264.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. UBS Group lifted their target price on shares of Cummins from $247.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Cummins from $235.00 to $231.00 and set a “hold” rating for the company in a report on Tuesday, February 7th. Finally, Credit Suisse Group lifted their target price on shares of Cummins from $287.00 to $291.00 and gave the company an “outperform” rating in a report on Tuesday, February 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $254.75.

Cummins Stock Performance

Shares of NYSE CMI opened at $230.49 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. Cummins has a 12 month low of $184.27 and a 12 month high of $261.91. The company has a 50 day simple moving average of $248.06 and a two-hundred day simple moving average of $237.07. The stock has a market cap of $32.59 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.40 and a beta of 1.01.

Cummins (NYSE:CMI – Get Rating) last posted its earnings results on Monday, February 6th. The company reported $4.52 earnings per share for the quarter, meeting the consensus estimate of $4.52. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.21 billion. Cummins had a net margin of 7.66% and a return on equity of 24.58%. The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.85 EPS. As a group, analysts predict that Cummins will post 18.95 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Georgia R. Nelson sold 1,933 shares of the business’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $251.64, for a total value of $486,420.12. Following the completion of the sale, the director now owns 21,742 shares of the company’s stock, valued at approximately $5,471,156.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Sharon R. Barner sold 5,540 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $252.34, for a total transaction of $1,397,963.60. Following the completion of the sale, the vice president now owns 16,144 shares of the company’s stock, valued at $4,073,776.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Georgia R. Nelson sold 1,933 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $251.64, for a total transaction of $486,420.12. Following the sale, the director now directly owns 21,742 shares of the company’s stock, valued at approximately $5,471,156.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,709 shares of company stock valued at $4,245,545. 1.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cummins

Large investors have recently modified their holdings of the business. Synovus Financial Corp boosted its position in shares of Cummins by 254.4% during the 1st quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock valued at $1,242,000 after acquiring an additional 4,378 shares during the last quarter. Cibc World Market Inc. boosted its position in shares of Cummins by 65.4% during the 1st quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock valued at $3,732,000 after acquiring an additional 7,191 shares during the last quarter. Sei Investments Co. boosted its position in shares of Cummins by 16.1% during the 1st quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock valued at $19,282,000 after acquiring an additional 13,058 shares during the last quarter. Prudential PLC acquired a new position in shares of Cummins during the 1st quarter valued at about $711,000. Finally, Cetera Investment Advisers boosted its position in shares of Cummins by 43.0% during the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock valued at $1,313,000 after acquiring an additional 1,925 shares during the last quarter. Hedge funds and other institutional investors own 80.94% of the company’s stock.

About Cummins

(Get Rating)

Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.