Cummins (NYSE:CMI) Rating Increased to Buy at StockNews.com

Cummins (NYSE:CMI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

A number of other research firms have also recently weighed in on CMI. TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $243.00 to $225.00 in a research note on Friday, January 19th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and increased their price objective for the company from $254.00 to $321.00 in a research note on Friday, March 15th. TD Cowen increased their price objective on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Citigroup increased their price objective on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $279.70.

Cummins Stock Up 0.8 %

Shares of Cummins stock opened at $292.71 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. Cummins has a one year low of $203.18 and a one year high of $304.24. The company has a market cap of $40.03 billion, a P/E ratio of 56.51, a PEG ratio of 1.96 and a beta of 1.04. The firm has a fifty day moving average of $281.69 and a two-hundred day moving average of $249.59.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period last year, the company earned $4.52 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts forecast that Cummins will post 18.31 earnings per share for the current year.

Insiders Place Their Bets

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel William Fisher acquired 562 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, the director now owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. Insiders have sold 51,289 shares of company stock valued at $13,576,838 in the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Balentine LLC lifted its holdings in shares of Cummins by 3.3% during the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after acquiring an additional 127 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Cummins by 200.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after acquiring an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of Cummins during the 3rd quarter worth about $9,048,000. Capital Advisors Inc. OK purchased a new position in shares of Cummins during the 4th quarter worth about $24,915,000. Finally, SG Americas Securities LLC raised its holdings in Cummins by 227.6% in the fourth quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $5,817,000 after buying an additional 16,869 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

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.