Wall Street Zen Upgrades Cummins (NYSE:CMI) to “Strong-Buy”

Cummins (NYSE:CMI) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

CMI has been the subject of a number of other reports. Sanford C. Bernstein set a $600.00 price objective on shares of Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. JPMorgan Chase & Co. boosted their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Wolfe Research lowered shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target for the company. in a research report on Monday, January 26th. Argus set a $696.00 price objective on Cummins in a report on Tuesday, February 10th. Finally, UBS Group set a $565.00 target price on Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $588.93.

Cummins Price Performance

CMI opened at $584.37 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $80.74 billion, a P/E ratio of 28.48, a PEG ratio of 1.85 and a beta of 1.12. The stock has a 50-day moving average price of $566.52 and a 200-day moving average price of $485.66. Cummins has a 12-month low of $260.02 and a 12-month high of $617.98.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.Cummins’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $5.16 EPS. Equities analysts predict that Cummins will post 22.54 earnings per share for the current fiscal year.

Insider Transactions at Cummins

In related news, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the sale, the vice president owned 7,214 shares in the company, valued at $4,329,337.82. The trade was a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William I. Miller sold 18,107 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the transaction, the director directly owned 34,243 shares in the company, valued at approximately $20,446,495.30. The trade was a 34.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,141 shares of company stock worth $16,121,817. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Cummins

A number of large investors have recently modified their holdings of CMI. Activest Wealth Management boosted its stake in Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Cummins in the 4th quarter valued at about $26,000. Wellington Shields Capital Management LLC acquired a new stake in shares of Cummins in the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. purchased a new position in Cummins during the 4th quarter worth approximately $28,000. Finally, Birchwood Financial Partners Inc. acquired a new position in Cummins during the fourth quarter worth approximately $28,000. Institutional investors own 83.46% of the company’s stock.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.