Tuesday, December 1, 2020

For Cummins Inc. [CMI], Piper Sandler sees a drop to $162. What next?

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Cummins Inc. [NYSE: CMI] stock went on an upward path that rose over 0.43% on Friday, amounting to a one-week price decrease of less than -7.18%. Over the last 12 months, CMI stock rose by 1.65%. The one-year Cummins Inc. stock forecast points to a potential upside of 2.29. The average equity rating for CMI stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $24.54 billion, with 149.30 million shares outstanding and 147.02 million shares in the current float. Compared to the average trading volume of 1.50M shares, CMI stock reached a trading volume of 1377830 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Guru’s Opinion on Cummins Inc. [CMI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CMI shares is $171.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CMI stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Cummins Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 12, 2020. While these analysts kept the previous recommendation, Goldman raised their target price from $192 to $200. The new note on the price target was released on February 13, 2020, representing the official price target for Cummins Inc. stock. Previously, the target price had yet another raise from $162 to $167, while UBS kept a Neutral rating on CMI stock. On January 14, 2020, analysts increased their price target for CMI shares from 180 to 205.

The Average True Range (ATR) for Cummins Inc. is set at 6.07, with the Price to Sales ratio for CMI stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 3.53, with the Price to Cash per share for the same quarter was set at 13.82. Price to Free Cash Flow for CMI in the course of the last twelve months was 14.40 with Quick ratio for the last quarter at 0.90.

CMI Stock Performance Analysis:

Cummins Inc. [CMI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.18. With this latest performance, CMI shares gained by 13.14% in over the last four-week period, additionally sinking by -8.25% over the last 6 months – not to mention a rise of 1.65% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CMI stock in for the last two-week period is set at 50.92, with the RSI for the last a single of trading hit 44.90, and the three-weeks RSI is set at 52.65 for Cummins Inc. [CMI]. The present Moving Average for the last 50 days of trading for this stock 157.68, while it was recorded at 175.06 for the last single week of trading, and 162.98 for the last 200 days.

Insight into Cummins Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Cummins Inc. [CMI] shares currently have an operating margin of +10.63 and a Gross Margin at +25.29. Cummins Inc.’s Net Margin is presently recorded at +9.59.

Return on Total Capital for CMI is now 22.70, given the latest momentum, and Return on Invested Capital for the company is 24.57. Return on Equity for this stock inclined to 30.43, with Return on Assets sitting at 11.65. When it comes to the capital structure of this company, Cummins Inc. [CMI] has a Total Debt to Total Equity ratio set at 38.20. Additionally, CMI Total Debt to Total Capital is recorded at 27.64, with Total Debt to Total Assets ending up at 14.53. Long-Term Debt to Equity for the company is recorded at 25.92, with the Long-Term Debt to Total Capital now at 18.76.

Reflecting on the efficiency of the workforce at the company, Cummins Inc. [CMI] managed to generate an average of $36,679 per employee. Receivables Turnover for the company is 6.01 with a Total Asset Turnover recorded at a value of 1.22.Cummins Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.

CMI Stock EPS

With the latest financial reports released by the company, Cummins Inc. posted 4.27/share EPS, while the average EPS was predicted by analysts to be reported at 4.4/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CMI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cummins Inc. go to -7.37%.

Cummins Inc. [CMI] Insider Position Details

There are presently around $20,334 million, or 85.00% of CMI stock, in the hands of institutional investors. The top three institutional holders of CMI stocks are: VANGUARD GROUP INC with ownership of 12,909,990, which is approximately 2.63% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 12,591,114 shares of the stock with an approximate value of $2.1 billion in CMI stocks shares; and STATE STREET CORP, currently with $1.2 billion in CMI stock with ownership of nearly 1.384% of the company’s market capitalization.

Positions in Cummins Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 408 institutional holders increased their position in Cummins Inc. [NYSE:CMI] by around 9,340,575 shares. Additionally, 618 investors decreased positions by around 11,821,607 shares, while 135 investors held positions by with 100,540,377 shares. The mentioned changes placed institutional holdings at 121,702,559 shares, according to the latest SEC report filing. CMI stock had 77 new institutional investments in for a total of 1,334,725 shares, while 175 institutional investors sold positions of 2,348,826 shares during the same period.

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