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

Cummins (NYSE:CMI) had its target price dropped by analysts at UBS Group from $432.00 to $400.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 22.24% from the company’s current price.

A number of other research analysts have also weighed in on CMI. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Robert W. Baird raised their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Truist Financial raised their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $389.50.

Cummins Trading Up 1.5 %

Shares of NYSE:CMI opened at $327.24 on Tuesday. The business’s 50-day moving average is $357.35 and its 200 day moving average is $347.20. Cummins has a 1 year low of $261.51 and a 1 year high of $387.90. The firm has a market capitalization of $44.99 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business 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 company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.14 earnings per share. On average, research analysts predict that Cummins will post 22.54 earnings per share for the current fiscal year.

Institutional Trading of Cummins

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Cummins in the fourth quarter worth approximately $499,490,000. Raymond James Financial Inc. acquired a new stake in shares of Cummins in the fourth quarter worth approximately $187,082,000. Vanguard Group Inc. boosted its stake in shares of Cummins by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock worth $5,912,830,000 after acquiring an additional 250,650 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Cummins by 15.1% in the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company’s stock worth $656,418,000 after acquiring an additional 246,807 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Cummins by 57.0% in the fourth quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company’s stock worth $224,317,000 after acquiring an additional 233,694 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

About Cummins

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.