J.P. Morgan Reaffirms Their Hold Rating on Cummins (CMI)

In a report released today, Tami Zakaria from J.P. Morgan maintained a Hold rating on Cummins, with a price target of $600.00.

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Zakaria covers the Industrials sector, focusing on stocks such as Deere, Oshkosh, and ESAB Corporation. According to TipRanks, Zakaria has an average return of 11.3% and a 60.16% success rate on recommended stocks.

In addition to J.P. Morgan, Cummins also received a Hold from Bernstein’s Chad Dillard in a report issued on April 8. However, on April 2, Wells Fargo assigned a Buy rating to Cummins (NYSE: CMI).

Based on Cummins’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $8.54 billion and a net profit of $593 million. In comparison, last year the company earned a revenue of $8.45 billion and had a net profit of $418 million

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMI in relation to earlier this year. Last month, Amy Rochelle Davis, the VP & Pres. – Accelera and Com of CMI sold 4,054.00 shares for a total of $2,275,660.62.