What’s Cummins Inc. (CMI) Upside After Making 52-Week High?

January 21, 2018 - By Ellis Scott

Investors sentiment increased to 1.1 in 2017 Q3. Its up 0.09, from 1.01 in 2017Q2. It increased, as 57 investors sold Cummins Inc. shares while 253 reduced holdings. 92 funds opened positions while 249 raised stakes. 132.23 million shares or 1.24% more from 130.61 million shares in 2017Q2 were reported.
Mcf Limited Liability Company reported 584 shares. Adams Diversified Equity Fund holds 1.24% of its portfolio in Cummins Inc. (NYSE:CMI) for 136,100 shares. Cordasco Fin holds 1,400 shares or 0.26% of its portfolio. Rodgers Brothers Inc holds 1.04% in Cummins Inc. (NYSE:CMI) or 17,635 shares. Lpl Ltd Liability Co, California-based fund reported 52,254 shares. Amalgamated Bancorporation stated it has 18,510 shares. Pacad Inv owns 2,500 shares. Security National Tru reported 0% stake. Afam Capital invested in 35,436 shares. First Western Mngmt has invested 0.39% in Cummins Inc. (NYSE:CMI). Penobscot Invest Management Company stated it has 0.16% of its portfolio in Cummins Inc. (NYSE:CMI). Mirae Asset Global Invs Ltd has invested 0% in Cummins Inc. (NYSE:CMI). Pnc Finance Group Incorporated reported 742,298 shares. Moreover, Legacy Private Tru Comm has 0.03% invested in Cummins Inc. (NYSE:CMI) for 1,382 shares. Davenport And Ltd reported 0.01% in Cummins Inc. (NYSE:CMI).

Since August 9, 2017, it had 0 insider buys, and 1 sale for $260,085 activity.

The stock of Cummins Inc. (NYSE:CMI) hit a new 52-week high and has $202.32 target or 7.00 % above today’s $189.08 share price. The 9 months bullish chart indicates low risk for the $31.38 billion company. The 1-year high was reported on Jan, 21 by Barchart.com. If the $202.32 price target is reached, the company will be worth $2.20B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 2.92% or $5.36 during the last trading session, reaching $189.08. About 1.81M shares traded or 28.52% up from the average. Cummins Inc. (NYSE:CMI) has risen 43.32% since January 21, 2017 and is uptrending. It has outperformed by 26.62% the S&P500.

Analysts await Cummins Inc. (NYSE:CMI) to report earnings on February, 8. They expect $2.60 EPS, up 15.56 % or $0.35 from last year’s $2.25 per share. CMI’s profit will be $431.53M for 18.18 P/E if the $2.60 EPS becomes a reality. After $2.71 actual EPS reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -4.06 % negative EPS growth.

Cummins Inc. (NYSE:CMI) Ratings Coverage

Among 28 analysts covering Cummins (NYSE:CMI), 8 have Buy rating, 3 Sell and 17 Hold. Therefore 29% are positive. Cummins has $215.0 highest and $79 lowest target. $157.96’s average target is -16.46% below currents $189.08 stock price. Cummins had 93 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was downgraded by Macquarie Research to “Neutral” on Monday, April 11. The rating was maintained by Barclays Capital on Wednesday, October 28 with “Underweight”. Barclays Capital initiated the shares of CMI in report on Friday, September 25 with “Underweight” rating. The firm earned “Hold” rating on Monday, October 16 by Piper Jaffray. The rating was downgraded by Robert W. Baird on Wednesday, October 28 to “Neutral”. The firm earned “Buy” rating on Friday, January 19 by Bank of America. The firm has “Neutral” rating by UBS given on Tuesday, October 20. Bank of America downgraded the shares of CMI in report on Tuesday, December 1 to “Underperform” rating. Citigroup downgraded the stock to “Neutral” rating in Monday, January 25 report. The company was maintained on Wednesday, November 1 by Jefferies.

More important recent Cummins Inc. (NYSE:CMI) news were published by: Prnewswire.com which released: “Teamsters: Three Cummins Unions Join Forces To Demand End To Discrimination In …” on January 18, 2018, also Seekingalpha.com published article titled: “Cummins Stock Is Positioned For Outperformance”, Businesswire.com published: “Cummins Brings Its Global Technical Education Program to the US” on January 04, 2018. More interesting news about Cummins Inc. (NYSE:CMI) was released by: Bizjournals.com and their article: “Cummins, FedEx, U of M launching global tech program at East’s T-STEM Academy” with publication date: January 02, 2018.

Cummins Inc., together with its subsidiaries, designs, makes, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. The company has market cap of $31.38 billion. It operates through Engine, Distribution, Components, and Power Systems divisions. It has a 19.21 P/E ratio. The Engine segment makes and markets a range of diesel and natural gas powered engines under the Cummins and other customer brand names for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, gas and oil, defense, and agricultural markets.

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