Wells Fargo & Company Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IRGet Free Report) had its target price dropped by research analysts at Wells Fargo & Company from $115.00 to $105.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.21% from the company’s previous close.

IR has been the subject of a number of other reports. UBS Group assumed coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Robert W. Baird dropped their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Barclays increased their price objective on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.25.

Read Our Latest Analysis on IR

Ingersoll Rand Trading Down 1.9 %

NYSE IR traded down $1.69 on Tuesday, reaching $89.58. The stock had a trading volume of 257,728 shares, compared to its average volume of 1,666,166. Ingersoll Rand has a 12-month low of $74.01 and a 12-month high of $106.03. The stock has a fifty day moving average price of $98.97 and a two-hundred day moving average price of $95.85. The firm has a market capitalization of $36.10 billion, a price-to-earnings ratio of 43.70, a P/E/G ratio of 3.84 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand in the third quarter worth $34,000. Eastern Bank purchased a new position in shares of Ingersoll Rand during the 3rd quarter worth $42,000. Kimelman & Baird LLC acquired a new stake in shares of Ingersoll Rand during the second quarter worth $57,000. Versant Capital Management Inc grew its position in shares of Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in Ingersoll Rand in the third quarter valued at $65,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

About Ingersoll Rand

(Get Free Report)

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.

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