Cummins (NYSE:CMI) has been assigned a $164.00 target price by analysts at Piper Jaffray in a note issued to investors on Thursday. The firm presently has a “hold” rating on the stock. Piper Jaffray’s target price points to a potential upside of 3.86% from the stock’s previous close. Piper Jaffray also issued estimates for Cummins’ Q1 2018 earnings at $3.02 EPS, Q2 2018 earnings at $3.30 EPS, Q3 2018 earnings at $3.22 EPS, Q4 2018 earnings at $3.37 EPS, FY2018 earnings at $12.91 EPS, Q1 2019 earnings at $3.06 EPS, Q2 2019 earnings at $3.50 EPS, Q3 2019 earnings at $3.41 EPS, Q4 2019 earnings at $3.71 EPS, FY2020 earnings at $13.55 EPS, FY2021 earnings at $14.55 EPS and FY2022 earnings at $15.05 EPS.
CMI has been the topic of several other research reports. Oppenheimer increased their price objective on Cummins to $207.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Wells Fargo reissued a “buy” rating and issued a $195.00 price objective (down previously from $210.00) on shares of Cummins in a research note on Thursday, February 22nd. Deutsche Bank set a $169.00 price objective on Cummins and gave the stock a “sell” rating in a research note on Monday, February 5th. Credit Suisse Group dropped their price objective on Cummins from $208.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $185.33.
Shares of NYSE:CMI opened at $157.90 on Thursday. Cummins has a 52-week low of $143.83 and a 52-week high of $194.18. The company has a market capitalization of $26,666.72, a P/E ratio of 14.87, a PEG ratio of 1.12 and a beta of 1.22. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.
A number of institutional investors have recently bought and sold shares of CMI. BlackRock Inc. lifted its holdings in shares of Cummins by 8.3% during the 4th quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after purchasing an additional 898,512 shares during the last quarter. Boston Partners lifted its holdings in shares of Cummins by 33.1% during the 4th quarter. Boston Partners now owns 3,296,825 shares of the company’s stock valued at $582,351,000 after purchasing an additional 819,719 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cummins by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,122,029 shares of the company’s stock valued at $374,228,000 after purchasing an additional 59,257 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Cummins by 5.4% during the 4th quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock valued at $303,894,000 after purchasing an additional 105,100 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Cummins by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,991,974 shares of the company’s stock valued at $351,862,000 after purchasing an additional 17,704 shares during the last quarter. Institutional investors own 84.17% 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 worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
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