Cummins (NYSE:CMI) Rating Lowered to “Hold” at StockNews.com

Cummins (NYSE:CMI) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities analysts have also issued reports about the stock. Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Truist Financial raised their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Citigroup dropped their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Evercore ISI increased their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $392.64.

Cummins Stock Performance

Cummins stock opened at $322.24 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins has a 1-year low of $261.51 and a 1-year high of $387.90. The firm has a market capitalization of $44.30 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company’s 50-day moving average is $359.39 and its 200 day moving average is $346.87.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $4.14 earnings per share. Research analysts forecast that Cummins will post 22.54 EPS for the current year.

Institutional Investors Weigh In On Cummins

Several institutional investors have recently bought and sold shares of CMI. Siemens Fonds Invest GmbH lifted its stake in shares of Cummins by 9.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,433 shares of the company’s stock worth $1,545,000 after buying an additional 398 shares during the period. Cim LLC acquired a new stake in shares of Cummins during the fourth quarter worth $1,532,000. Park Square Financial Group LLC acquired a new stake in shares of Cummins during the fourth quarter worth $45,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Cummins during the fourth quarter worth $45,015,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Cummins during the fourth quarter worth $32,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.