Ingersoll Rand (NYSE:IR) Price Target Lowered to $96.00 at Barclays

Ingersoll Rand (NYSE:IR) had its target price dropped by stock analysts at Barclays from $102.00 to $96.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 13.99% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Citigroup decreased their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company reduced their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Evercore ISI cut their target price on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.25.

Ingersoll Rand Stock Down 1.2 %

Shares of IR opened at $84.22 on Monday. The stock has a fifty day simple moving average of $89.18 and a two-hundred day simple moving average of $94.54. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $33.95 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand has a 52-week low of $79.97 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, equities analysts forecast that Ingersoll Rand will post 3.32 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in Ingersoll Rand by 41.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,475 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 1,012 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Ingersoll Rand by 0.7% in the third quarter. Principal Financial Group Inc. now owns 467,439 shares of the industrial products company’s stock valued at $45,884,000 after buying an additional 3,165 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Ingersoll Rand by 61.3% during the third quarter. Assetmark Inc. now owns 97,723 shares of the industrial products company’s stock worth $9,592,000 after buying an additional 37,154 shares during the period. Atria Investments Inc grew its holdings in shares of Ingersoll Rand by 18.5% during the third quarter. Atria Investments Inc now owns 13,381 shares of the industrial products company’s stock worth $1,313,000 after buying an additional 2,087 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in Ingersoll Rand by 11.2% during the 3rd quarter. Sigma Planning Corp now owns 12,363 shares of the industrial products company’s stock valued at $1,214,000 after acquiring an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

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.