UBS Group Issues Pessimistic Forecast for Cummins (NYSE:CMI) Stock Price

Cummins (NYSE:CMI) had its price objective lowered by UBS Group from $432.00 to $400.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 24.13% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Evercore ISI lifted their price target on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird upped their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $389.50.

Cummins Price Performance

CMI opened at $322.23 on Tuesday. The stock has a market capitalization of $44.30 billion, a P/E ratio of 11.30, 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 quick ratio of 0.80 and a current ratio of 1.31. The company’s 50-day simple moving average is $358.75 and its two-hundred day simple moving average is $347.28. Cummins has a 52-week low of $261.51 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.14 earnings per share. As a group, analysts predict that Cummins will post 22.54 EPS for the current year.

Hedge Funds Weigh In On Cummins

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