Cummins Inc. [NYSE: CMI] stock went on an upward path that rose over 0.90% on Firday, amounting to a one-week price decrease of less than -0.61%. The company report on February 29, 2024 at 2:30 PM that Cummins announces innovative next generation X15 diesel engine, part of Cummins HELM™ 15-liter fuel agnostic platform, launching in North America to meet aligned 2027 regulations.
The new X15 advanced diesel engine is Cummins’ most efficient yet, designed for the Cummins’ fully integrated powertrain featuring Eaton Cummins Automated Transmission Technologies and Cummins-Meritor.
Today, Cummins Inc. (NYSE: CMI) announced it will launch its most efficient heavy-duty diesel engine ever. As the next product in the Cummins HELM™ 15-liter fuel agnostic platform, the diesel X15 will be compliant with U.S. EPA and CARB 2027 aligned regulations at launch. The next generation X15 diesel engine in North America will serve the heavy-duty on-highway market.
Over the last 12 months, CMI stock rose by 4.72%. The one-year Cummins Inc. stock forecast points to a potential downside of -1.41. The average equity rating for CMI stock is currently 2.68, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $38.10 billion, with 141.80 million shares outstanding and 139.49 million shares in the current float. Compared to the average trading volume of 1.61M shares, CMI stock reached a trading volume of 11056437 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 $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 2.68. 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 5.60, 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.
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 -0.61. With this latest performance, CMI shares gained by 8.26% in over the last four-week period, additionally plugging by 15.50% over the last 6 months – not to mention a rise of 4.72% 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 61.48, with the RSI for the last a single of trading hit 57.95, and the three-weeks RSI is set at 62.38 for Cummins Inc. [CMI]. The present Moving Average for the last 50 days of trading for this stock 249.74, while it was recorded at 270.18 for the last single week of trading, and 237.08 for the last 200 days.
Insight into Cummins Inc. Fundamentals:
Cummins Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 1.18.
CMI Stock EPS
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 7.10%.
Cummins Inc. [CMI] Institutonal Ownership Details
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%.
