Standpoint Research Downgrades Cummins (CMI) to Hold; Locking In Gains
Tweet
Share
E-mailGet Alerts CMI Hot Sheet
Price: $641.16 +1.57%
Rating Summary:
15 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
15 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Standpoint Research downgraded Cummins (NYSE: CMI) from Buy to Hold.
Analyst, Ronnie Moas, said, "Cummins CMI shares have jumped 19.9% and are ahead of the S&P-500 by > 1200 bps since our December 16 recommendation. The shares remain attractive, but we have decided to lock in the gain after watching Siemens (NYSE: SI) slide 4% on earnings announced this morning."
"This is a good company and we hope to get a chance to reinstate CMI at a later date. The shares are now trading at 13X trailing twelve months earnings; 12X estimates for 2011 and 10X estimates for 2012. The consensus estimates for 2012 may be optimistic as they are forecasting double-digit spikes in both EPS and revenues."
For an analyst ratings summary and ratings history on Cummins click here. For more ratings news on Cummins click here.
Shares of Cummins closed at $105.50 yesterday.
Analyst, Ronnie Moas, said, "Cummins CMI shares have jumped 19.9% and are ahead of the S&P-500 by > 1200 bps since our December 16 recommendation. The shares remain attractive, but we have decided to lock in the gain after watching Siemens (NYSE: SI) slide 4% on earnings announced this morning."
"This is a good company and we hope to get a chance to reinstate CMI at a later date. The shares are now trading at 13X trailing twelve months earnings; 12X estimates for 2011 and 10X estimates for 2012. The consensus estimates for 2012 may be optimistic as they are forecasting double-digit spikes in both EPS and revenues."
For an analyst ratings summary and ratings history on Cummins click here. For more ratings news on Cummins click here.
Shares of Cummins closed at $105.50 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla to launch Cybercab in Austin this month - report
- Is Treasury selloff a major issue for stock market bulls?
- Fabrinet (FN) Tops Q4 EPS by 29c, Beats on Revenue; Offers Guidance
Create E-mail Alert Related Categories
DowngradesRelated Entities
Standard & Poor's, Standpoint Research, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
