Analyst Price Target Update on Cummins (NYSE:CMI)

Cummins (NYSE:CMI): According to 12 Analysts, The short term target price has been estimated at $ 114.42.The target price could deviate by a maximum of $18.36 from the forecast price. In the near term, the target price could hit a high of $160 and a low of $ 95.

Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Citigroup maintains its outlook on Cummins (NYSE:CMI). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $100 per share to $115 per share. The rating by the firm was issued on May 13, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Rose Marya M, officer (V.P. – CAO) of Cummins Inc, had unloaded 848 shares at an average price of $112.11 in a transaction dated on May 25, 2016. The total value of the transaction was worth $95,069.

Cummins (NYSE:CMI) stock ended Monday session in the red zone in a volatile trading. The stock closed down 2.26 points or 1.95% at $113.74 with 1,594,725 shares getting traded. Post opening the session at $115.54, the shares hit an intraday low of $113.65 and an intraday high of $115.915 and the price was in this range throughout the day. The company has a market cap of $19,377 million and the number of outstanding shares have been calculated to be 170,359,530 shares. The 52-week high of Cummins (NYSE:CMI) is $137.42 and the 52-week low is $79.88.

Cummins Inc. is a global diesel engine manufacturer. The Company designs, manufactures, 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. It has four operating segments: Engine, Distribution, Components and Power Generation. The Company sells its products to original equipment manufacturers (OEMs), distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7,200 dealer locations in more than 190 countries. In addition, engines and engine components are manufactured by the Companys joint ventures or independent licensees at its manufacturing plants in the United States, China, India, South Korea, Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.

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