Cummins (CMI) : 16 analysts are covering Cummins (CMI) and their average rating on the stock is 2.88, which is read as a Hold. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 11 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Cummins (CMI) stock is expected to deviate a maximum of $17.51 from the average target price of $111.69 for the short term period. 13 Street Experts have initiated coverage on the stock with the most promising target being $160 and the most muted being $95.
Company shares have received an average consensus rating of Hold for the current week
Cummins (NYSE:CMI): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $116.73 and $116.27 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $119.18. The buying momentum continued till the end and the stock did not give up its gains. It closed at $118.98, notching a gain of 2.67% for the day. The total traded volume was 1,615,471 . The stock had closed at $115.89 on the previous day.
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.