Stifel Nicolaus analyst Michael Baudendistel maintained a Buy rating on Cummins (NYSE: CMI) today and set a price target of $174. The company’s shares closed yesterday at $150.83.
According to TipRanks.com, Baudendistel is a 3-star analyst with an average return of 2.2% and a 56.2% success rate. Baudendistel covers the Industrial Goods sector, focusing on stocks such as Allison Transmission Holdings Inc, Wabash National Corp, and Freightcar America.
The word on The Street in general, suggests a Hold analyst consensus rating for Cummins with a $159.50 average price target, representing a 5.7% upside. In a report issued on October 4, Piper Jaffray also upgraded the stock to Buy with a $188 price target.
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Based on Cummins’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.13 billion and net profit of $545 million. In comparison, last year the company earned revenue of $5.29 billion and had a net profit of $453 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.
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Cummins, Inc. engages in the design, manufacture, sale and service of diesel and natural gas engines and related technologies, including fuel systems, controls, air handing, filtration, emission, solutions and electrical power generation systems. It operates through the following segments: Engine, Distribution, Components and Power Generation.