Cummins Inc. [NYSE: CMI] traded at a high on Monday, posting a 4.10 gain after which it closed the day’ session at $286.12.
The results of the trading session contributed to over 8185564 shares changing hands. Over the past one week, the price volatility of Cummins Inc. stands at 2.99% while the volatility over the past one month is 2.24%.
The market cap for CMI stock reached $40.59 billion, with 141.80 million shares outstanding and 139.45 million shares in the current float. Compared to the average trading volume of 2.55M shares, CMI reached a trading volume of 8185564 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $271.44 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 2.61. 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 March 15, 2024. While these analysts kept the previous recommendation, Truist raised their target price to Hold. The new note on the price target was released on March 14, 2024, representing the official price target for Cummins Inc. stock. Previously, the target price had yet another raise from $260 to $272, while TD Cowen kept a Outperform rating on CMI stock. On January 19, 2024, analysts decreased their price target for CMI shares from 243 to 225.
The Average True Range (ATR) for Cummins Inc. is set at 6.77, with the Price to Sales ratio for CMI stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 4.58, 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 14.74 with Quick ratio for the last quarter at 0.74.
How has CMI stock performed recently?
Cummins Inc. [CMI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.91. With this latest performance, CMI shares gained by 7.64% in over the last four-week period, additionally plugging by 21.56% over the last 6 months – not to mention a rise of 23.41% 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 71.49, with the RSI for the last a single of trading hit 73.90, and the three-weeks RSI is set at 69.67 for Cummins Inc. [CMI]. The present Moving Average for the last 50 days of trading for this stock 253.74, while it was recorded at 272.91 for the last single week of trading, and 238.93 for the last 200 days.
Cummins Inc. [CMI]: Deeper insight into the 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.
Earnings analysis for Cummins Inc. [CMI]
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%.
Insider trade positions for 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%.
