CMI Stock Summary and Trading Ideas (Cummins | NYSE:CMI)

Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.

Cummins trades on the NYSE stock market under the symbol CMI.

As of April 16, 2024, CMI stock price declined to $294.58 with 639,121 million shares trading.

CMI has a beta of 1.10, meaning it tends to be more sensitive to market movements. CMI has a correlation of 0.36 to the broad based SPY ETF.

CMI has a market cap of $40.15 billion. This is considered a Large Cap stock.

Last quarter Cummins reported $9 billion in Revenue and $4.14 earnings per share. This beat revenue expectation by $403 million and missed earnings estimates by -$.34.

In the last 3 years, CMI stock traded as high as $304.25 and as low as $184.28.

The top ETF exchange traded funds that CMI belongs to (by Net Assets): VTI, VOO, VO, SPY, COWZ.

CMI has outperformed the market in the last year with a price return of +28.9% while the SPY ETF gained +23.7%. CMI has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +24.9% and 0.0%, respectively, while the SPY returned +6.0% and -3.6%, respectively.

CMI support price is $291.34 and resistance is $300.22 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CMI stock will trade within this expected range on the day.