The stock of Cummins Inc. (CMI) has seen a 2.75% increase in the past week, with a 12.27% gain in the past month, and a 26.60% flourish in the past quarter. The volatility ratio for the week is 1.88%, and the volatility levels for the past 30 days are at 2.12% for CMI. The simple moving average for the past 20 days is 4.46% for CMI’s stock, with a 24.02% simple moving average for the past 200 days.
Is It Worth Investing in Cummins Inc. (NYSE: CMI) Right Now?
The price-to-earnings ratio for Cummins Inc. (NYSE: CMI) is 59.27x, which is above its average ratio. Moreover, the 36-month beta value for CMI is 1.04. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 3 as “overweight,” 14 as “hold,” and 1 as “sell.”
The public float for CMI is 139.45M and currently, short sellers hold a 1.97% of that float. On April 12, 2024, CMI’s average trading volume was 3.27M shares.
CMI) stock’s latest price update
Cummins Inc. (NYSE: CMI)’s stock price has soared by 0.19 in relation to previous closing price of 302.30. Nevertheless, the company has seen a gain of 2.75% in its stock price over the last five trading days. MarketBeat reported 2024-04-05 that High short interest is a recipe for sharp stock price movements, and when the shorts are getting squeezed, the movements can be the sharpest. The stocks on this list are not only high-short interest stocks with upward price pressure; they are among the most shorted stocks listed on Marketbeat’s platform, offer some value, have positive market sentiment, and a forecast for growth.
Analysts’ Opinion of CMI
Truist, on the other hand, stated in their research note that they expect to see CMI reach a price target of $303. The rating they have provided for CMI stocks is “Hold” according to the report published on March 14th, 2024.
TD Cowen gave a rating of “Outperform” to CMI, setting the target price at $272 in the report published on February 07th of the current year.
CMI Trading at 11.33% from the 50-Day Moving Average
After a stumble in the market that brought CMI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.44% of loss for the given period.
Volatility was left at 2.12%, however, over the last 30 days, the volatility rate increased by 1.88%, as shares surge +12.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.74% upper at present.
During the last 5 trading sessions, CMI rose by +2.75%, which changed the moving average for the period of 200-days by +29.30% in comparison to the 20-day moving average, which settled at $291.57. In addition, Cummins Inc. saw 26.42% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CMI starting from Barner Sharon R, who sale 2,100 shares at the price of $271.29 back on Feb 28 ’24. After this action, Barner Sharon R now owns 16,899 shares of Cummins Inc., valued at $569,709 using the latest closing price.
Quintos Karen H, the Director of Cummins Inc., sale 1,000 shares at $270.24 during a trade that took place back on Feb 28 ’24, which means that Quintos Karen H is holding 2,835 shares at $270,238 based on the most recent closing price.
Stock Fundamentals for CMI
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.24 for the gross margin
The net margin for Cummins Inc. stands at 0.02. The total capital return value is set at 0.09. Equity return is now at value 8.25, with 2.36 for asset returns.
Based on Cummins Inc. (CMI), the company’s capital structure generated 0.45 points at debt to capital in total, while cash flow to debt ratio is standing at 0.55. The debt to equity ratio resting at 0.81. The interest coverage ratio of the stock is 4.7.
Currently, EBITDA for the company is 3.02 billion with net debt to EBITDA at 1.67. When we switch over and look at the enterprise to sales, we see a ratio of 1.41. The receivables turnover for the company is 6.1for trailing twelve months and the total asset turnover is 1.06. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.18.
Conclusion
To wrap up, the performance of Cummins Inc. (CMI) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
