Stock Rating Upgrade
The Value Trend Rating for Cummins Inc. (NYSE: CMI) improved during the last several trading days from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Cummins Inc. (NYSE: CMI) stock closed at $293.97 on 8/9/24 after a modest decline of -1.1%. However, unusually low trading volume at 64% of normal accompanied the decline. The stock has declined -4.0% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
CMI’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Cummins has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Cummins has a slightly negative Appreciation Score of 35 but a very high Power Rating of 89, resulting in the Positive Value Trend Rating.
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