Bearish H&S Is Formed By Cummins Inc. (CMI) at $147.21

May 16, 2018 - By Carolyn Hewitt

Cummins Inc. (NYSE:CMI) Corporate Logo

During 2017 Q4 the big money sentiment increased to 1.27. That’s change of 0.17, from 2017Q3’s 1.1. 47 investors sold all, 251 reduced holdings as Cummins Inc. ratio increased. 271 increased holdings while 108 funds took holdings. Funds hold 131.82 million shares thus 0.31% less from 2017Q3’s 132.23 million shares.
Sii Invests Wi accumulated 3,269 shs. Moreover, Comerica Secs has 0.3% invested in Cummins Inc. (NYSE:CMI) for 13,553 shs. Riverhead Capital Mgmt Llc holds 0.8% or 107,603 shs in its capital. The Quebec – Canada-based Hexavest has invested 0% in Cummins Inc. (NYSE:CMI). California Employees Retirement System holds 0.11% or 454,611 shs. Ajo L P has invested 0.75% in Cummins Inc. (NYSE:CMI). Mai Cap Mngmt accumulated 0.01% or 1,210 shs. Alps holds 0% of its capital in Cummins Inc. (NYSE:CMI) for 3,059 shs. 1,667 are owned by Captrust Financial Advisors. Northwestern Mutual Wealth Mgmt Company invested in 21,869 shs or 0.02% of the stock. 21,809 were accumulated by West Coast Financial Limited Liability. Birinyi Assoc stated it has 0.17% of its capital in Cummins Inc. (NYSE:CMI). Thrivent For Lutherans invested in 0% or 6,353 shs. Culbertson A N, Virginia-based fund reported 38,294 shs. Moreover, Teacher Retirement Of Texas has 0.09% invested in Cummins Inc. (NYSE:CMI).

The H&S technical setup of Cummins Inc. (CMI) formed $141.32 [Target] or 4.00 % below today’s $147.21stock price. Cummins Inc. (CMI) has $24.18B market cap. Faxor.com posted the H&S technical setup on May, 16. $967.28 million less could be CMI valuation at $141.32 stock price.

CMI is hitting $147.21 during the last trading session, after increased 0.53%.Currently Cummins Inc. is uptrending after 6.07% change in last May 16, 2017. CMI has 690,813 shares volume. The stock underperformed the S&P500 by 5.48%.

Investors wait Cummins Inc. (NYSE:CMI)’s quarterly earnings on August, 7., Zacks reports. Analysts predict $3.59 EPS. That’s $1.06 up or 41.90 % from 2017’s earnings of $2.53. If the current EPS of $3.59 is accurate, CMI’s profit could reach $589.72M. After $3.30 EPS was reported last quarter, analysts now see EPS growth of 8.79 % for Cummins Inc..

Cummins Inc. (NYSE:CMI) Ratings Coverage

In total 18 analysts cover Cummins (NYSE:CMI). “Buy” rating has 2, “Sell” are 2, while 14 are “Hold”. (NYSE:CMI) has 11% bullish analysts. With $215.0 highest and $159.0 lowest price target, Cummins has $176.93 average price target or 20.19% above the current ($147.21) price. 29 are the (NYSE:CMI)’s ratings reports on May 16, 2018 according to StockzIntelligence Inc. In Thursday, May 3 report BMO Capital Markets maintained it with “Market Perform” rating and $170 target. On Wednesday, May 2 Buckingham Research downgraded Cummins Inc. (NYSE:CMI) to “Neutral” rating. The company rating was maintained by Citigroup on Friday, May 4. On Wednesday, May 2 Credit Suisse maintained the shares of CMI in report with “Outperform” rating. On Wednesday, December 6 Oppenheimer initiated Cummins Inc. (NYSE:CMI) rating. Oppenheimer has “Buy” rating and $192.0 target. On Friday, December 1 Goldman Sachs downgraded Cummins Inc. (NYSE:CMI) to “Neutral” rating. The company rating was maintained by Stifel Nicolaus on Wednesday, May 2. On Wednesday, May 2 Oppenheimer maintained Cummins Inc. (NYSE:CMI) with “Outperform” rating. On Wednesday, January 24 the firm earned “Equal-Weight” rating by Barclays Capital. On Monday, February 5 the rating was maintained by Stifel Nicolaus with “Hold”.

More recent Cummins Inc. (NYSE:CMI) news were released by Seekingalpha.com, Benzinga.com and Seekingalpha.com. The first one has “Cummins Inc. 2018 Q1 – Results – Earnings Call Slides” as a title and was released on May 01, 2018. The next is “Analyst: Cummins’ Earnings Visibility Clouded By Overhang, Peaking End Markets” on May 02, 2018. And last was released on May 06, 2018, called “Cummins: This Dividend Stock Is On Sale”.

Cummins Inc. (NYSE:CMI) Institutional Investors Chart

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