Stifel Nicolaus Lowers Ingersoll Rand (NYSE:IR) Price Target to $94.00

Ingersoll Rand (NYSE:IR) had its price objective decreased by Stifel Nicolaus from $100.00 to $94.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.61% from the company’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays decreased their price target on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Citigroup lowered their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group lifted their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.75.

Ingersoll Rand Price Performance

Shares of IR opened at $85.76 on Tuesday. The business’s fifty day moving average is $91.79 and its 200 day moving average is $95.01. Ingersoll Rand has a 12-month low of $83.72 and a 12-month high of $106.03. 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 stock has a market cap of $34.56 billion, a P/E ratio of 41.63, a P/E/G ratio of 3.40 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. Sell-side analysts anticipate that Ingersoll Rand will post 3.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ingersoll Rand

Several institutional investors have recently bought and sold shares of the company. Creative Planning increased its stake in shares of Ingersoll Rand by 66.2% in the third quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock worth $10,794,000 after purchasing an additional 43,801 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Ingersoll Rand by 167.5% during the 3rd quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock valued at $248,000 after buying an additional 1,709 shares in the last quarter. Raymond James & Associates boosted its holdings in Ingersoll Rand by 51.1% in the 3rd quarter. Raymond James & Associates now owns 353,809 shares of the industrial products company’s stock worth $34,730,000 after buying an additional 119,656 shares during the period. OLD National Bancorp IN grew its stake in Ingersoll Rand by 5.4% in the 3rd quarter. OLD National Bancorp IN now owns 3,118 shares of the industrial products company’s stock valued at $306,000 after buying an additional 159 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Ingersoll Rand by 11.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,063 shares of the industrial products company’s stock valued at $31,123,000 after acquiring an additional 32,961 shares during the period. Hedge funds and other 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.