Sunday, September 27, 2020

Cummins Inc. [CMI] Stock trading around $204.06 per share: What’s Next?

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Cummins Inc. [NYSE: CMI] stock went on a downward path that fall over -0.15% on Tuesday, amounting to a one-week price decrease of less than -1.54%. The company report on September 3, 2020 that Cummins Inc. and Oak Ridge National Laboratory Collaboration Enables Capability to Produce Millions of Face Masks.

A collaboration between Cummins Inc. (NYSE: CMI) and the Carbon Fiber Technology Facility (CFTF) at the Department of Energy’s Oak Ridge National Laboratory (ORNL) has resulted in the ability to produce enough filter media to supply more than a million face masks and respirators per day to U.S. healthcare facilities.

As a leading manufacturer of air, fuel and lube filtration products for heavy-duty diesel engines, Cummins began exploring ways to use their filtration production technology to support healthcare providers as they addressed the COVID-19 pandemic.

Over the last 12 months, CMI stock rose by 26.89%. The one-year Cummins Inc. stock forecast points to a potential upside of 2.01. 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 $30.16 billion, with 147.60 million shares outstanding and 147.25 million shares in the current float. Compared to the average trading volume of 1.08M shares, CMI stock reached a trading volume of 1361543 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $208.24 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.

UBS have made an estimate for Cummins Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 08, 2020. The new note on the price target was released on August 21, 2020, representing the official price target for Cummins Inc. stock. Previously, the target price had yet another raise from $171 to $199, while Cowen kept a Market Perform rating on CMI stock.

The Average True Range (ATR) for Cummins Inc. is set at 4.60, with the Price to Sales ratio for CMI stock in the period of the last 12 months amounting to 1.49. The Price to Book ratio for the last quarter was 4.19, with the Price to Cash per share for the same quarter was set at 14.23. Price to Free Cash Flow for CMI in the course of the last twelve months was 32.89 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 -1.54. With this latest performance, CMI shares gained by 2.40% in over the last four-week period, additionally plugging by 40.12% over the last 6 months – not to mention a rise of 26.89% 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 51.40, with the RSI for the last a single of trading hit 42.27, and the three-weeks RSI is set at 54.12 for Cummins Inc. [CMI]. The present Moving Average for the last 50 days of trading for this stock 195.10, while it was recorded at 207.38 for the last single week of trading, and 170.18 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 3.83/share EPS, while the average EPS was predicted by analysts to be reported at 3.83/share. 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 -3.42%.

Cummins Inc. [CMI] Insider Position Details

There are presently around $25,482 million, or 86.30% of CMI stock, in the hands of institutional investors. The top three institutional holders of CMI stocks are: VANGUARD GROUP INC with ownership of 13,302,243, which is approximately 3.038% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 12,658,157 shares of the stock with an approximate value of $2.58 billion in CMI stocks shares; and STATE STREET CORP, currently with $1.45 billion in CMI stock with ownership of nearly -1.063% of the company’s market capitalization.

Positions in Cummins Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 434 institutional holders increased their position in Cummins Inc. [NYSE:CMI] by around 12,358,722 shares. Additionally, 519 investors decreased positions by around 9,307,302 shares, while 151 investors held positions by with 103,207,008 shares. The mentioned changes placed institutional holdings at 124,873,032 shares, according to the latest SEC report filing. CMI stock had 125 new institutional investments in for a total of 4,273,516 shares, while 84 institutional investors sold positions of 1,241,368 shares during the same period.

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