Stifel Nicolaus Reiterates Their Hold Rating on Cummins

By Carrie Williams

Stifel Nicolaus analyst Michael Baudendistel reiterated a Hold rating on Cummins (NYSE: CMI) yesterday and set a price target of $190. The company’s shares closed yesterday at $176.88, close to its 52-week high of $180.86.

According to TipRanks.com, Baudendistel is a 4-star analyst with an average return of 9.6% and a 65.6% success rate. Baudendistel covers the Services sector, focusing on stocks such as Covenant Transportation Group, Knight Transportation, and Landstar System Inc.

Currently, the analyst consensus on Cummins is Hold and the average price target is $171.57, representing a -3.0% downside.

In a report issued on October 16, Piper Jaffray also reiterated a Hold rating on the stock with a $159 price target.

The company has a one-year high of $180.86 and a one-year low of $121.22. Currently, Cummins has an average volume of 1.2M.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is neutral 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 segments.