Cummins (CMI) Receives a Hold from Cowen & Co.

By Austin Angelo

In a report released today, Matt Elkott from Cowen & Co. maintained a Hold rating on Cummins (CMIResearch Report), with a price target of $199.00. The company’s shares closed last Friday at $195.14, close to its 52-week high of $204.98.

According to TipRanks.com, Elkott is a 3-star analyst with an average return of 4.7% and a 47.4% success rate. Elkott covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies, Freightcar America, and Trinity Industries.

The word on The Street in general, suggests a Hold analyst consensus rating for Cummins with a $196.69 average price target, representing a 0.3% upside. In a report issued on July 29, Oppenheimer also maintained a Hold rating on the stock.

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Cummins’ market cap is currently $28.98B and has a P/E ratio of 17.60. The company has a Price to Book ratio of 5.99.

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Cummins, Inc. designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, agricultural, construction, mining, marine, oil and gas, rail and governmental equipment markets. The Distribution segment consists of parts, engines, power generation and service, which service and distributes its products and services. The Components segment supplies products such as, aftertreatment systems, turbochargers, transmissions, filtration products, electronics and fuel systems for commercial diesel and natural gas applications. The Power Systems segment engages in power generation, industrial and generator technologies. The New Power segment designs, manufactures, sells and supports electrified power systems with components and subsystems, including battery, fuel cell and hydrogen production technologies. The company was founded by Clessie Lyle Cummins and William Glanton Irwin on February 3, 1919 and is headquartered in Columbus, IN.