Cummins Inc. [NYSE: CMI] gained 0.88% or 2.33 points to close at $268.54 with a heavy trading volume of 4492361 shares. The company report on February 22, 2024 at 12:00 PM that Cummins promotes five new leaders to vice president.
Cummins Inc. (NYSE: CMI) announced today the appointment of four leaders to the role of vice president, effective March 1 – Ricardo Roman, Michelle Probst, Gbile Adewunmi and Matt McQueen – in addition to Ashwath Ram, who was appointed Vice President in January.
“These leaders each demonstrate, in their own unique ways, a commitment to making a positive impact on our company, our customers and our people,” said Jennifer Rumsey, Chair and CEO, Cummins Inc. “These leaders are experts in their fields and are fiercely committed to the Cummins culture and ensuring our employees are able to reach their full potential. I am confident that, as we evolve through the energy transition and continue to drive our Destination Zero strategy forward, these leaders will help us position Cummins for even greater success in the future.”.
The daily chart for CMI points out that the company has recorded 15.73% gains over the past six months.
If we look at the average trading volume of 1.04M shares, CMI reached to a volume of 4492361 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $264.87 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 2.64. 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.
TD Cowen have made an estimate for Cummins Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 07, 2024. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $243 to $225. The new note on the price target was released on January 19, 2024, representing the official price target for Cummins Inc. stock. Previously, the target price had yet another raise to $278, while Morgan Stanley analysts kept a Overweight rating on CMI stock.
The Average True Range (ATR) for Cummins Inc. is set at 5.07, with the Price to Sales ratio for CMI stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 4.30, with the Price to Cash per share for the same quarter was set at 19.32. Price to Free Cash Flow for CMI in the course of the last twelve months was 13.84 with Quick ratio for the last quarter at 0.74.
Trading performance analysis for CMI stock
Cummins Inc. [CMI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.56. With this latest performance, CMI shares gained by 11.60% in over the last four-week period, additionally plugging by 15.73% over the last 6 months – not to mention a rise of 10.01% 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 71.27, with the RSI for the last a single of trading hit 74.49, and the three-weeks RSI is set at 68.56 for Cummins Inc. [CMI]. The present Moving Average for the last 50 days of trading for this stock 245.29, while it was recorded at 264.96 for the last single week of trading, and 234.93 for the last 200 days.
Cummins Inc. [CMI]: A deeper dive into fundamental analysis
Cummins Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 1.18.
Cummins Inc. [CMI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cummins Inc. posted 5.55/share EPS, while the average EPS was predicted by analysts to be reported at 4.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.80%. 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 9.25%.
An analysis of Institutional ownership at Cummins Inc. [CMI]
The top three institutional holders of CMI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CMI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CMI stock with ownership which is approximately 5.8325%.
