Robert W. Baird Issues Pessimistic Forecast for Cummins (NYSE:CMI) Stock Price

Cummins (NYSE:CMI) had its target price decreased by Robert W. Baird from $407.00 to $315.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 12.08% from the company’s previous close.

A number of other brokerages have also commented on CMI. UBS Group lowered Cummins from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. Evercore ISI lifted their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Citigroup dropped their price target on shares of Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Cummins from $375.00 to $308.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Truist Financial dropped their target price on shares of Cummins from $420.00 to $338.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $346.00.

Cummins Price Performance

Shares of CMI stock opened at $281.05 on Tuesday. Cummins has a 1 year low of $260.02 and a 1 year high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $330.50 and its 200-day moving average is $345.86. The firm has a market capitalization of $38.71 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 2.19 and a beta of 1.07.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Global Trust Asset Management LLC raised its holdings in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the period. KG&L Capital Management LLC increased its holdings in Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after purchasing an additional 28 shares in the last quarter. Signaturefd LLC raised its stake in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock valued at $1,155,000 after purchasing an additional 28 shares during the period. Fiduciary Trust Co lifted its holdings in shares of Cummins by 1.2% in the fourth quarter. Fiduciary Trust Co now owns 2,456 shares of the company’s stock valued at $856,000 after purchasing an additional 28 shares in the last quarter. Finally, Massachusetts Wealth Management boosted its position in shares of Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after buying an additional 30 shares during the period. Institutional investors own 83.46% of the company’s stock.

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.