The stock of Cummins Inc. (NYSE:CMI) hit a new 52-week high and has $148.57 target or 4.00% above today’s $142.86 share price. The 8 months bullish chart indicates low risk for the $24.66B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $148.57 price target is reached, the company will be worth $986.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.38M shares traded hands. Cummins Inc. (NYSE:CMI) has risen 21.58% since April 28, 2016 and is uptrending. It has outperformed by 15.66% the S&P500.
Analysts await Cummins Inc. (NYSE:CMI) to report earnings on February, 2. They expect $1.99 EPS, down 4.78% or $0.10 from last year’s $2.09 per share. CMI’s profit will be $343.51 million for 17.95 P/E if the $1.99 EPS becomes a reality. After $2.02 actual EPS reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -1.49% negative EPS growth.
Cummins Inc. (NYSE:CMI) Ratings Coverage
Out of 22 analysts covering Cummins (NYSE:CMI), 5 rate it a “Buy”, 4 “Sell”, while 13 “Hold”. This means 23% are positive. Cummins has been the topic of 49 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Friday, February 5, the company rating was maintained by Macquarie Research. The stock has “Underweight” rating given by Barclays Capital on Wednesday, October 12. The stock of Cummins Inc. (NYSE:CMI) has “Buy” rating given on Friday, August 21 by Standpoint Research. The stock has “Hold” rating given by Deutsche Bank on Thursday, December 17. The stock of Cummins Inc. (NYSE:CMI) earned “Market Perform” rating by BMO Capital Markets on Tuesday, October 6. The stock has “Hold” rating given by Jefferies on Thursday, September 1. As per Thursday, July 14, the company rating was downgraded by Standpoint Research. The stock of Cummins Inc. (NYSE:CMI) earned “Neutral” rating by Citigroup on Friday, May 13. Barclays Capital initiated it with “Underweight” rating and $99 target price in Friday, September 25 report. Evercore downgraded Cummins Inc. (NYSE:CMI) on Tuesday, August 4 to “Hold” rating.
According to Zacks Investment Research, “Cummins Inc. is one of the leading worldwide designers and manufacturers of diesel engines. The company also produces natural gas engines and engine components and subsystems. Cummins provides power and components for a wide variety of equipment in its key businesses: engine, power generation, and filtration.”
Insitutional Activity: The institutional sentiment increased to 1.07 in Q2 2016. Its up 0.12, from 0.95 in 2016Q1. The ratio is positive, as 75 funds sold all Cummins Inc. shares owned while 250 reduced positions. 62 funds bought stakes while 246 increased positions. They now own 134.04 million shares or 12.52% less from 153.23 million shares in 2016Q1.
Reilly Fin Advisors Ltd Liability Co last reported 25 shares in the company. Patten has invested 0% of its portfolio in Cummins Inc. (NYSE:CMI). Rothschild Corp Il, a Illinois-based fund reported 11,459 shares. Glg Llc owns 10,510 shares or 0.09% of their US portfolio. The New York-based D E Shaw & has invested 0.02% in Cummins Inc. (NYSE:CMI). Credit Agricole S A last reported 0.14% of its portfolio in the stock. Bessemer Gp last reported 0% of its portfolio in the stock. First Interstate National Bank & Trust, a Montana-based fund reported 642 shares. Intl Group Inc reported 3.49M shares or 0% of all its holdings. Atria Investments Ltd Liability has invested 0.06% of its portfolio in Cummins Inc. (NYSE:CMI). Argentus Limited Company accumulated 0.09% or 1,977 shares. Lincoln last reported 5,309 shares in the company. Jump Trading Llc holds 0.01% of its portfolio in Cummins Inc. (NYSE:CMI) for 2,323 shares. Supplemental Annuity Collective Tru Of Nj has 0.27% invested in the company for 4,803 shares. Westpac Corporation has invested 0% of its portfolio in Cummins Inc. (NYSE:CMI).
Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 15 insider sales for $6.51 million net activity. Freeland Richard Joseph sold 2,500 shares worth $337,500. Shares for $405,000 were sold by CHAPMAN STEVEN M. $63,132 worth of shares were sold by HUNT MARSHA L on Monday, August 8. Ward Pat had sold 5,000 shares worth $637,500. Cook Jill E sold $747,799 worth of stock. 820 Cummins Inc. (NYSE:CMI) shares with value of $104,099 were sold by Ewald Thaddeus B. The insider HERDMAN ROBERT sold 1,000 shares worth $137,773.
More recent Cummins Inc. (NYSE:CMI) news were published by: Foxbusiness.com which released: “Fiat Chrysler, Cummins reject diesel cheating suit” on November 14, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Dean Foods, Carter’s and Cummins” on November 15, 2016. Nasdaq.com‘s news article titled: “Cummins Inc. (CMI) Ex-Dividend Date Scheduled for November 17, 2016” with publication date: November 16, 2016 was also an interesting one.
CMI Company Profile
Cummins Inc., incorporated on February 3, 1919, is a maker of diesel engines. The Firm designs, makes, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. The Firm sells its products to original equipment manufacturers (OEMs), distributors and other clients across the world. The Firm serves its clients through a network of approximately 600 Company-owned and independent distributor locations and approximately 7,200 dealer locations in over 190 countries and territories. It has presence in the United States, China, India, South Korea, Mexico and Sweden.
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