Standpoint Research Downgrades Cummins (NYSE:CMI) to Hold

Standpoint Research downgraded shares of Cummins (NYSE:CMI) from a buy rating to a hold rating in a report published on Tuesday, Automated Import reports.

Several other research analysts have also recently commented on CMI. Piper Jaffray Companies set a $195.00 price target on shares of Cummins and gave the stock a buy rating in a report on Thursday, April 4th. Citigroup started coverage on shares of Oxford Industries in a report on Tuesday, April 16th. They set a buy rating for the company. Loop Capital cut shares of Ryder System from a buy rating to a hold rating and lowered their price target for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd. Zacks Investment Research cut shares of Inflarx from a buy rating to a hold rating in a report on Friday, May 3rd. Finally, Buckingham Research boosted their price objective on shares of PulteGroup from $28.00 to $31.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $165.73.

NYSE CMI opened at $172.80 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.18. Cummins has a 52 week low of $124.40 and a 52 week high of $175.18. The firm has a market cap of $27.21 billion, a PE ratio of 13.06, a PEG ratio of 1.30 and a beta of 1.17. The business’s 50 day moving average price is $166.10.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $4.20 EPS for the quarter, topping the consensus estimate of $3.51 by $0.69. Cummins had a net margin of 10.24% and a return on equity of 30.72%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the business posted $3.30 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Cummins will post 16.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.311 per share. This represents a $5.24 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Tuesday, August 20th. This is an increase from Cummins’s previous quarterly dividend of $1.14. Cummins’s payout ratio is currently 34.47%.

Several large investors have recently modified their holdings of CMI. Gradient Investments LLC raised its position in Cummins by 102.8% in the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after purchasing an additional 74 shares during the last quarter. Guidant Wealth Advisors purchased a new stake in Cummins in the 1st quarter valued at $29,000. Sonora Investment Management LLC purchased a new stake in Cummins in the 2nd quarter valued at $32,000. Lenox Wealth Advisors LLC purchased a new stake in Cummins in the 2nd quarter valued at $33,000. Finally, SeaBridge Investment Advisors LLC purchased a new stake in Cummins in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 81.14% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

See Also: Lock-Up Period Expiration

Analyst Recommendations for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with's FREE daily email newsletter.