Cummins (CMI) : 3 brokerage houses believe that Cummins (CMI) is a Strong Buy at current levels. 11 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Cummins (CMI). Zacks Investment Research suggests a Hold with a rank of 3. 2 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 16 Wall Street Analysts endorse the stock as a Hold with a rating of 2.88.
Cummins (CMI) : The highest level Cummins (CMI) is projected to reach is $160 for the short term and the lowest estimate is at $95. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $112.92 and the possibility the share price can swing is $18.38.
Cummins (NYSE:CMI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $109.20 and $107.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $110.69. The buying momentum continued till the end and the stock did not give up its gains. It closed at $110.61, notching a gain of 0.39% for the day. The total traded volume was 1,704,994 . The stock had closed at $110.18 on the previous day.
Also, Citigroup maintains its view on Cummins (NYSE:CMI) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Citigroup raises the price target from $100 per share to $115 per share on Cummins . The rating by the firm was issued on May 13, 2016. The company shares have dropped -14.63% from its 1 Year high price. On Jul 9, 2015, the shares registered one year high at $142.46 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $113.10 and the 200 Day Moving Average price is recorded at $104.29.
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.