Cummins (NYSE:CMI) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo cut its Cummins price target from $608 to $520 but maintained an “overweight” rating; the new target implies 13.78% upside from the stock’s current price.
• Analyst views remain broadly positive: 13 analysts rate the stock “Buy” and five “Hold,” with a MarketBeat average target of $689.06.
• Cummins reported quarterly EPS of $8.25, slightly above the cited consensus, and revenue rose 13.5% year over year to $9.44 billion—but revenue missed estimates, and the company lowered its 2026 revenue outlook amid weakness in pickup-truck demand.

Cummins (NYSE:CMI - Get Free Report) had its price target cut by research analysts at Wells Fargo & Company from $608.00 to $520.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 13.78% from the stock's current price.

CMI has been the subject of several other research reports. CICC Research initiated coverage on shares of Cummins in a research report on Sunday, August 23rd. They issued an "outperform" rating and a $781.00 price objective for the company. Bank of America reduced their target price on shares of Cummins from $731.00 to $600.00 in a report on Thursday, September 24th. Wall Street Zen cut shares of Cummins from a "buy" rating to a "hold" rating in a research report on Monday. Zacks Research cut shares of Cummins from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Morgan Stanley increased their price target on Cummins from $752.00 to $761.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Cummins has an average rating of "Moderate Buy" and an average target price of $689.06.

Cummins Trading Up 1.9%

CMI traded up $8.46 on Friday, reaching $457.04. 320,702 shares of the company's stock were exchanged, compared to its average volume of 1,019,182. The company's 50 day moving average is $528.92 and its 200-day moving average is $600.18. The company has a market cap of $62.92 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 1.24 and a beta of 1.26. Cummins has a twelve month low of $443.62 and a twelve month high of $737.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $8.25 EPS for the quarter, beating the consensus estimate of $8.20 by $0.05. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.89 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. Cummins's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.59 earnings per share. Equities analysts predict that Cummins will post 29.98 earnings per share for the current year.

Insider Transactions at Cummins

In other Cummins news, VP Earl Newsome sold 698 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the completion of the sale, the vice president owned 4,479 shares of the company's stock, valued at $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Cummins during the 2nd quarter worth $8,204,241,000. Bank of America Corp DE acquired a new position in shares of Cummins in the 2nd quarter worth $1,408,353,000. Bank of New York Mellon Corp acquired a new stake in shares of Cummins during the second quarter worth $973,198,000. Legal & General Group Plc acquired a new stake in shares of Cummins during the second quarter worth $666,635,000. Finally, Amundi raised its position in shares of Cummins by 19.7% during the second quarter. Amundi now owns 893,772 shares of the company's stock worth $637,446,000 after purchasing an additional 147,093 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Key Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Data-center demand is emerging as a significant growth driver for Cummins, helping diversify its business beyond traditional truck markets. Cummins: Data Center Demand Is Now a Core Growth Driver
• Positive Sentiment: Quarterly profit increased year over year, with reported EPS of $8.25 versus $5.59 a year earlier; one set of consensus estimates showed a slight earnings beat. Revenue also grew 13.5% year over year. Cummins Q3 Profit More Than Doubles; Cuts FY26 Revenue Outlook
• Negative Sentiment: Revenue of $9.44 billion fell short of analyst expectations of about $9.89 billion. Some reports also described adjusted earnings as missing estimates, reflecting differences in the earnings measures and consensus figures cited. Cummins misses Q3 sales expectations
• Negative Sentiment: Cummins lowered its 2026 revenue outlook to $37.0 billion, below the roughly $37.7 billion analyst consensus. The company cited weakness tied to pickup-truck demand, raising concerns about near-term sales. Cummins earnings hit record, but pickup weakness cuts outlook

About Cummins

Cummins Inc is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines and power systems for commercial vehicles, industrial equipment, mining, construction, agriculture, marine applications and other markets.

Cummins' product portfolio includes diesel and natural gas engines, generators and other power-generation equipment, as well as fuel systems, filtration products, emissions-control systems, turbochargers and drivetrain components.

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