TheStreet Lowers Cummins (CMI) to C+
Cummins (NYSE:CMI) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Tuesday.
A number of other research firms also recently commented on CMI. Seaport Global Securities reaffirmed a “neutral” rating on shares of Cummins in a report on Tuesday, January 16th. Stifel Nicolaus reissued a “hold” rating and set a $190.00 price target (up previously from $186.00) on shares of Cummins in a report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Citigroup boosted their price target on shares of Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Monday. Finally, BMO Capital Markets boosted their price target on shares of Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. Cummins has an average rating of “Hold” and an average target price of $185.96.
Cummins (NYSE:CMI) traded down $2.55 during trading on Tuesday, reaching $170.19. 350,725 shares of the company’s stock were exchanged, compared to its average volume of 1,389,366. The firm has a market capitalization of $28,480.00, a P/E ratio of 28.84, a PEG ratio of 1.19 and a beta of 1.14. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cummins has a 1 year low of $143.83 and a 1 year high of $194.18.
A number of hedge funds have recently bought and sold shares of CMI. Macquarie Group Ltd. lifted its holdings in Cummins by 466.3% in the second quarter. Macquarie Group Ltd. now owns 49,835 shares of the company’s stock worth $8,084,000 after purchasing an additional 41,035 shares during the period. Shelton Capital Management acquired a new stake in Cummins in the second quarter worth about $284,000. Arrowstreet Capital Limited Partnership lifted its holdings in Cummins by 383.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 25,600 shares of the company’s stock worth $4,153,000 after purchasing an additional 20,300 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Cummins by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 183,408 shares of the company’s stock worth $29,752,000 after purchasing an additional 7,803 shares during the period. Finally, Scotia Capital Inc. lifted its holdings in Cummins by 110.9% in the second quarter. Scotia Capital Inc. now owns 15,811 shares of the company’s stock worth $2,565,000 after purchasing an additional 8,314 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.
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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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