Ingersoll Rand (NYSE:IR) Given New $93.00 Price Target at Barclays

Ingersoll Rand (NYSE:IR) had its target price reduced by stock analysts at Barclays from $96.00 to $93.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 14.30% from the stock’s previous close.

Several other brokerages also recently commented on IR. Evercore ISI decreased their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Stifel Nicolaus cut their target price on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Citigroup lowered their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company cut their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

Ingersoll Rand Price Performance

NYSE IR opened at $81.37 on Wednesday. The business’s fifty day moving average is $86.94 and its 200 day moving average is $93.72. Ingersoll Rand has a fifty-two week low of $79.79 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The company has a market capitalization of $32.80 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion for 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%. Sell-side analysts predict that Ingersoll Rand will post 3.32 earnings per share for the current year.

Institutional Trading of Ingersoll Rand

Several hedge funds have recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp purchased a new position in Ingersoll Rand in the fourth quarter worth about $36,000. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the 4th quarter valued at approximately $38,000. Lee Danner & Bass Inc. purchased a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $42,000. Ancora Advisors LLC increased its position in shares of Ingersoll Rand by 144.8% during the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 294 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Ingersoll Rand during the 4th quarter valued at $50,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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.