Macquarie Downgrades Cummins to Neutral

Brokerage firm Macquarie Downgrades its rating on Cummins(NYSE:CMI). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Macquarie was issued on Apr 11, 2016.

In a different note, RBC Capital said it Initiates Coverage on Cummins, according to a research note issued on Mar 15, 2016. The shares have been rated ‘Sector Perform’ by the firm. On Feb 5, 2016, Macquarie said it Maintains its rating on Cummins. In the research note, the firm Raises the price-target to $99.00 per share. The shares have been rated ‘Outperform’ by the firm. On Feb 5, 2016, Deutsche Bank said it Maintains its rating on Cummins. In the research note, the firm Raises the price-target to $87.00 per share. The shares have been rated ‘Hold’ by the firm. On Feb 5, 2016, Susquehanna said it Maintains its rating on Cummins. In the research note, the firm Lowers the price-target to $91.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jan 25, 2016, Citigroup said it Downgrades its rating on Cummins. The shares have been rated ‘Neutral’ by the firm. On Jan 19, 2016, Barclays said it Maintains its rating on Cummins. According to the research note, Barclays Lowers the price target to $88 per share from a prior target of $91. The shares have been rated ‘Underweight’ by the firm.

Cummins (CMI) made into the market gainers list on Fridays trading session with the shares advancing 0.65% or 0.75 points. Due to strong positive momentum, the stock ended at $115.32, which is also near the day’s high of $115.61. The stock began the session at $115 and the volume stood at 20,56,115 shares. The 52-week high of the shares is $143.4 and the 52 week low is $79.88. The company has a current market capitalization of $20,103 M and it has 17,43,20,800 shares in outstanding.

Cummins(CMI) last announced its earnings results on Feb 4, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $4.77B. Analysts had an estimated revenue of $4.68B. Earnings per share were $2.02. Analysts had estimated an EPS of $2.12.

Several Insider Transactions has been reported to the SEC. On Feb 12, 2016, Marsha L Hunt (VP-Corp. Controller) sold 300 shares at $95.36 per share price.Also, On Feb 9, 2016, Anant Talaulicar (VP & President – Components) sold 3,027 shares at $142.02 per share price.On Nov 16, 2015, Leo Allen Bruno V Di (director) purchased 1,500 shares at $99.52 per share price, according to the Form-4 filing with the securities and exchange commission.

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 7200 dealer locations in more than 190 countries. In addition engines and engine components are manufactured by the Company’s 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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