Traders Sell Cummins (CMI) on Strength (CMI)

Investors sold shares of Cummins Inc. (NYSE:CMI) on strength during trading 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 stocks tracked, Cummins had the 17th highest net out-flow for the day. Cummins traded up $0.28 for the day and closed at $184.18

Several research firms recently weighed in on CMI. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $187.00 price target for the company in a research report on Thursday, September 21st. Royal Bank of Canada increased their price target on shares of Cummins from $169.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, November 2nd. Robert W. Baird restated a “sell” rating and set a $153.00 price target on shares of Cummins in a research report on Thursday, October 12th. Piper Jaffray Companies set a $170.00 target price on shares of Cummins and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Finally, Citigroup increased their target price on shares of Cummins from $175.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Two research 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $178.69.

The company has a market capitalization of $30,570.00, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.14. 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 announced its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.24. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. Cummins’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the firm posted $2.02 earnings per share. sell-side analysts expect that Cummins Inc. will post 10.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CMI. Northwest Investment Counselors LLC purchased a new stake in Cummins in the third quarter valued at approximately $132,000. Captrust Financial Advisors purchased a new stake in Cummins in the second quarter valued at approximately $137,000. Acrospire Investment Management LLC purchased a new stake in Cummins in the second quarter valued at approximately $146,000. Bank of Nova Scotia Trust Co. purchased a new position in shares of Cummins during the third quarter worth approximately $168,000. Finally, Krilogy Financial LLC purchased a new position in shares of Cummins during the third quarter worth approximately $168,000. 82.31% of the stock is currently owned by institutional investors and hedge funds.

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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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