Downgrade Alert for Cummins (CMI)
Cummins (NYSE:CMI) was downgraded from Buy to Neutral at Buckingham today. The stock closed yesterday at $106.43 on volume of 3.2 million shares, above average daily volume of 2.1 million.
Cummins share prices have moved between a 52-week high of $143.40 and a 52-week low of $79.88 and closed yesterday at 33% above that low price at $106.43 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.4%.
Cummins (NYSE:CMI) is currently priced 0.6% above its average consensus analyst price target of $105.80. Cummins shares should encounter resistance at the 200-day moving average (MA) of $107.97 and support at the 50-day MA of $100.32.
Cummins Inc. designs, manufactures, distributes and services diesel and natural gas engines. The Company also manufactures electric power generation systems and engine-related component products, including filtration and exhaust aftertreatment, fuel systems, controls, and air handling systems.
SmarTrend recommended that subscribers consider buying shares of Cummins on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $94.40. Since that recommendation, shares of Cummins have risen 14.4%. We continue to monitor CMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Cummins