Ingersoll Rand (NYSE:IR) PT Raised to $109.00

Ingersoll Rand (NYSE:IR) had its price objective upped by analysts at Robert W. Baird from $107.00 to $109.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective suggests a potential upside of 21.31% from the stock’s previous close.

A number of other research analysts have also commented on IR. Cfra upped their price target on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. UBS Group upped their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, January 29th. BNP Paribas initiated coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock. Finally, Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.82.

Ingersoll Rand Stock Performance

NYSE:IR opened at $89.85 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. Ingersoll Rand has a fifty-two week low of $56.49 and a fifty-two week high of $96.17. The firm has a market cap of $36.26 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40. The business has a 50 day moving average price of $91.90 and a 200-day moving average price of $81.21.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Equities research analysts predict that Ingersoll Rand will post 3.1 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has authorized a share buyback plan on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,011 shares of company stock valued at $26,374,789. Corporate insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors and hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand during the third quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the fourth quarter worth approximately $27,000. Quintet Private Bank Europe S.A. purchased a new stake in Ingersoll Rand in the third quarter worth approximately $28,000. Kapitalo Investimentos Ltda purchased a new stake in Ingersoll Rand in the fourth quarter worth approximately $28,000. Finally, Riverview Trust Co purchased a new stake in Ingersoll Rand in the first quarter worth approximately $29,000. Institutional investors own 95.27% of the company’s stock.

About Ingersoll Rand

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.