Cummins Inc. (CMI) Stock Report
Publication Date: September 22, 2024
Company Overview
Cummins Inc. (CMI), headquartered in Columbus, Indiana, is a leading manufacturer and distributor of diesel and natural gas engines, electric and hybrid powertrains, and associated components. Operating through five segments—Engine, Distribution, Components, Power Systems, and Accelera—the company caters to a variety of sectors, including heavy-duty trucks, buses, recreational vehicles, construction, mining, and agriculture. Established in 1919 and publicly traded since March 31, 1965, Cummins focuses on innovative solutions such as emission systems and advanced power generation technologies. Currently classified under the Specialty Industrial Machinery industry, Cummins demonstrates a solid financial standing, with total revenue nearing $34.17 billion, reinforcing its market robustness.
Investment Analysis
Analysts maintain a cautious stance on Cummins’ stock, recommending a “hold” with a target high price of $365.00 and a mean estimate around $322.36. Current trading price stands at $308.24, comfortably nested between a fifty-two week high of $322.83 and a low of $212.80. This positioning, above the fifty-day moving average of $297.16, signals potential bullish sentiment among investors. Specifically, with 137,048,000 shares outstanding and only 2,135,823 shares shorted (about 0.018% of the float), market pressure appears low. A moderate outlook prevails as 15 analysts have reached a consensus valuing the stock between $275.32 and $365.00, advising investors to maintain their current positions while remaining vigilant for market fluctuations.
Market Position & Future Outlook
Cummins’ revenue of approximately $34.17 billion reflects its significant presence within its market segment. While comprehensive details on EBITDA remain unavailable, the company’s operational capacity is evidenced by its robust financial metrics. The ongoing investment consideration in the Specialty Industrial Machinery sector is noteworthy; with analysts recommending a “hold,” they suggest a non-aggressive approach towards buying or selling at this moment. Given the favorable growth outlook and the established target prices, traders are advised to monitor Cummins closely as it navigates the market landscape, looking for opportunities amid a stable yet dynamic trading environment.
| Metric | Value |
|---|---|
| Market Cap | $42.2b |
| Total Debt | $8.1b |
| Total Cash | $2.2b |
| Shares Outstanding | 137.0m |
| Float Shares | 136.3m |
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