J.P. Morgan Sticks to Their Hold Rating for Cummins (CMI)
J.P. Morgan analyst Tami Zakaria maintained a Hold rating on Cummins today and set a price target of $600.00.
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According to TipRanks, Zakaria is a 5-star analyst with an average return of 14.1% and a 67.38% success rate. Zakaria covers the Industrials sector, focusing on stocks such as Oshkosh, Paccar, and ESAB Corporation.
In addition to J.P. Morgan, Cummins also received a Hold from Bernstein’s Chad Dillard in a report issued on February 25. However, on February 20, Barclays maintained a Buy rating on 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 54 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, Donald Jackson, the VP – Treasury & Tax of CMI sold 4,990.00 shares for a total of $2,323,548.30.
Read More on CMI:
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- The Week That Was, The Week Ahead: Macro and Markets, Feb. 15
- Trade Tensions Threaten Cummins Inc.: Tariffs, Sanctions and Supply Chain Disruptions Weigh on Financial Outlook
- Cummins price target raised to $696 from $573 at Argus
- Cummins Earnings Call: Record Margins Amid Truck Slump
- Cummins price target raised to $675 from $600 at Morgan Stanley
