UBS Group Lowers Cummins (NYSE:CMI) Price Target to $400.00

Cummins (NYSE:CMI) had its price target lowered by research analysts at UBS Group from $432.00 to $400.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 22.24% from the company’s previous close.

A number of other research firms also recently commented on CMI. Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $389.50.

Cummins Stock Performance

NYSE CMI opened at $327.24 on Tuesday. The stock’s fifty day moving average is $357.35 and its two-hundred day moving average is $347.20. The firm has a market capitalization of $44.99 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins has a fifty-two week low of $261.51 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.14 earnings per share. On average, research analysts anticipate that Cummins will post 22.54 earnings per share for the current year.

Institutional Investors Weigh In On Cummins

Institutional investors and hedge funds have recently modified their holdings of the company. Global Trust Asset Management LLC increased its holdings in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department purchased a new stake in Cummins during the 4th quarter worth about $26,000. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter worth about $27,000. Meeder Asset Management Inc. increased its holdings in Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC purchased a new stake in Cummins during the 4th quarter worth about $28,000. Hedge funds and other 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.