Cummins (NYSE:CMI) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 2.88 by 16 Brokerage Firm. 3 Wall Street Firms have rated the stock as a strong buys. 11 Brokerage Firms have advised hold. 2 Analysts have rated it as strong sell.
Other Equity analysts have also commented on the company shares. In a research note released to the investors, Citigroup maintains its rating on Cummins (NYSE:CMI).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup raises the new price target from $100 per share to $115 per share. The rating by the firm was issued on May 13, 2016.
Cummins (NYSE:CMI): 13 Analyst have given the stock of Cummins (NYSE:CMI) a near short term price target of $112.92. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $18.38. The higher price target estimate is at $160 while the lower price estimates are fixed at $95.
Cummins (NYSE:CMI) witnessed a decline in the market cap on Tuesday as its shares dropped 0.53% or 0.61 points. After the session commenced at $115.57, the stock reached the higher end at $115.765 while it hit a low of $113.82. With the volume soaring to 1,216,628 shares, the last trade was called at $115.36. The company has a 52-week high of $136.98. The company has a market cap of $19,653 million and there are 170,359,530 shares in outstanding. The 52-week low of the share price is $79.88.
Shares of Cummins Inc. rose by 2.13% in the last five trading days and 6.61% for the last 4 weeks. Cummins Inc. is up 6.31% in the last 3-month period. Year-to-Date the stock performance stands at 33.52%.
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.