Cummins Inc. (NYSE:CMI) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, August 1st.
Other research analysts have also recently issued reports about the company. Stifel Nicolaus restated a “hold” rating and issued a $155.00 price objective (up from $150.00) on shares of Cummins in a research note on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $166.00 target price on shares of Cummins in a report on Wednesday, July 12th. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $160.00 target price (up from $150.00) on shares of Cummins in a report on Tuesday, May 2nd. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Cummins in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $156.21.
Cummins (NYSE CMI) traded down 0.32% during midday trading on Tuesday, hitting $150.79. The company’s stock had a trading volume of 1,467,309 shares. Cummins has a one year low of $116.03 and a one year high of $170.68. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 17.04 and a beta of 1.09. The company’s 50-day moving average is $161.81 and its 200 day moving average is $155.47.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by $0.05. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts predict that Cummins will post $7.98 EPS for the current year.
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In other Cummins news, CFO Pat Ward sold 14,050 shares of Cummins stock in a transaction on Monday, June 19th. The stock was sold at an average price of $163.95, for a total value of $2,303,497.50. Following the sale, the chief financial officer now owns 13,395 shares in the company, valued at $2,196,110.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony Satterthwaite sold 4,000 shares of Cummins stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $169.00, for a total value of $676,000.00. Following the completion of the sale, the insider now owns 41,902 shares in the company, valued at approximately $7,081,438. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,969 shares of company stock worth $10,053,755. 0.62% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Pinnacle Bank acquired a new stake in Cummins during the first quarter worth approximately $105,000. Carroll Financial Associates Inc. increased its stake in Cummins by 13.4% in the second quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after buying an additional 83 shares in the last quarter. Cohen Capital Management Inc. purchased a new stake in Cummins during the first quarter valued at about $121,000. First Manhattan Co. increased its stake in Cummins by 4.2% in the first quarter. First Manhattan Co. now owns 997 shares of the company’s stock valued at $127,000 after buying an additional 40 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Cummins during the second quarter valued at about $137,000. Institutional investors own 80.66% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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