Ingersoll Rand (NYSE:IR) Price Target Raised to $86.00

by · The Cerbat Gem

Ingersoll Rand (NYSE:IR – Free Report) had its price target lifted by Wells Fargo & Company from $80.00 to $86.00 in a report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on IR. Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Barclays decreased their price objective on Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Evercore ISI cut their target price on 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. Citigroup decreased their price target on shares of Ingersoll Rand from $109.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus cut their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.91.

Read Our Latest Analysis on Ingersoll Rand

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $77.88 on Monday. Ingersoll Rand has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $31.39 billion, a PE ratio of 37.81, a PEG ratio of 3.50 and a beta of 1.42. The stock’s fifty day simple moving average is $77.16 and its 200 day simple moving average is $88.87.

Ingersoll Rand (NYSE:IR – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts predict that Ingersoll Rand will post 3.32 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Ingersoll Rand’s dividend payout ratio is presently 3.96%.

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently bought and sold shares of IR. Compass Wealth Management LLC increased its holdings in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 137 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 286 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand in the fourth quarter valued at about $36,000. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand during the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after buying an additional 313 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Company Profile

(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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