Cummins Inc. (NYSE: CMI) has a higher price-to-earnings ratio of 20.64x compared to its average ratio. CMI has 36-month beta value of 0.99. Analysts have mixed views 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 134.38M, and currently, short sellers hold a 1.82% ratio of that float. The average trading volume of CMI on June 28, 2024 was 953.53K shares.
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CMI) stock’s latest price update
The stock price of Cummins Inc. (NYSE: CMI) has plunged by -0.42 when compared to previous closing price of 281.67, but the company has seen a 0.78% gain in its stock price over the last five trading sessions. investorplace.com reported 2024-06-26 that Hydrogen stocks have certainly seen better days. The Global X Hydrogen ETF (NASDAQ: HYDR ), which holds 29 different hydrogen-related equities and has an AUM of $43.2 million, plummeted 40% over the past 12 months.
CMI’s Market Performance
Cummins Inc. (CMI) has seen a 0.78% rise in stock performance for the week, with a 0.80% gain in the past month and a -4.82% plunge in the past quarter. The volatility ratio for the week is 1.75%, and the volatility levels for the past 30 days are at 1.96% for CMI. The simple moving average for the last 20 days is 1.81% for CMI stock, with a simple moving average of 10.04% for the last 200 days.
Analysts’ Opinion of CMI
Many brokerage firms have already submitted their reports for CMI stocks, with Citigroup repeating the rating for CMI by listing it as a “Buy.” The predicted price for CMI in the upcoming period, according to Citigroup is $320 based on the research report published on June 26, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see CMI reach a price target of $292, previously predicting the price at $272. The rating they have provided for CMI stocks is “Buy” according to the report published on May 10th, 2024.
CMI Trading at -0.98% 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 -7.81% of loss for the given period.
Volatility was left at 1.96%, however, over the last 30 days, the volatility rate increased by 1.75%, as shares surge +2.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.78% lower at present.
During the last 5 trading sessions, CMI rose by +0.78%, which changed the moving average for the period of 200-days by +20.08% in comparison to the 20-day moving average, which settled at $275.81. In addition, Cummins Inc. saw 17.08% 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 Wiltrout Jeffrey T, who purchase 282 shares at the price of $285.11 back on May 24 ’24. After this action, Wiltrout Jeffrey T now owns 1,262 shares of Cummins Inc., valued at $80,401 using the latest closing price.
Boakye Marvin, the VP – Chief Human Resources Off of Cummins Inc., purchase 1,745 shares at $286.04 during a trade that took place back on May 20 ’24, which means that Boakye Marvin is holding 1,745 shares at $499,133 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 0.06. The total capital return value is set at 0.08. Equity return is now at value 20.74, with 6.13 for asset returns.
Based on Cummins Inc. (CMI), the company’s capital structure generated 0.43 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 0.75. The interest coverage ratio of the stock is 4.07.
Currently, EBITDA for the company is 3.02 billion with net debt to EBITDA at 1.75. When we switch over and look at the enterprise to sales, we see a ratio of 1.27. The receivables turnover for the company is 6.23for trailing twelve months and the total asset turnover is 1.07. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.34.
Conclusion
To put it simply, Cummins Inc. (CMI) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
