Seaport Global Securities reissued their neutral rating on shares of Cummins (NYSE:CMI) in a research note published on Tuesday. Seaport Global Securities also issued estimates for Cummins’ Q4 2017 earnings at $2.65 EPS, FY2017 earnings at $10.25 EPS, Q1 2018 earnings at $2.89 EPS, Q2 2018 earnings at $3.11 EPS, Q3 2018 earnings at $2.96 EPS, Q4 2018 earnings at $3.01 EPS, FY2018 earnings at $11.96 EPS and FY2019 earnings at $12.95 EPS.
Other research analysts have also recently issued research reports about the stock. Buckingham Research lifted their price objective on shares of Cummins from $180.00 to $195.00 and gave the company a buy rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Cummins from a hold rating to a buy rating and set a $188.00 target price on the stock in a research report on Monday, October 2nd. Argus lifted their target price on shares of Cummins from $172.00 to $195.00 and gave the company a buy rating in a research report on Monday, November 6th. Barclays assumed coverage on shares of Cummins in a research report on Tuesday, December 12th. They issued an equal weight rating and a $180.00 target price on the stock. Finally, Stifel Nicolaus reiterated a hold rating and issued a $190.00 target price (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $178.69.
Cummins (NYSE CMI) traded up $0.03 on Tuesday, reaching $183.72. 870,290 shares of the company’s stock were exchanged, compared to its average volume of 1,212,524. Cummins has a one year low of $140.18 and a one year high of $185.27. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $30,490.00, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Cummins during the third quarter worth about $132,000. Bank of Nova Scotia Trust Co. acquired a new position in Cummins during the third quarter worth about $168,000. Krilogy Financial LLC acquired a new position in Cummins during the third quarter worth about $168,000. Sun Life Financial INC boosted its position in Cummins by 8,684.6% during the second quarter. Sun Life Financial INC now owns 1,142 shares of the company’s stock worth $185,000 after acquiring an additional 1,129 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Cummins during the third quarter worth about $201,000. Institutional investors and hedge funds own 82.36% of the company’s stock.
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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