Ingersoll Rand (NYSE:IR – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Citigroup upped their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays raised their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. BNP Paribas initiated coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target on the stock. Finally, Cfra boosted their target price on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.
Ingersoll Rand Price Performance
NYSE:IR traded down $6.13 during mid-day trading on Friday, reaching $86.72. The stock had a trading volume of 6,849,021 shares, compared to its average volume of 2,315,355. Ingersoll Rand has a 12 month low of $56.49 and a 12 month high of $96.17. The stock has a market capitalization of $34.99 billion, a PE ratio of 43.14, a P/E/G ratio of 3.23 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The stock has a 50-day simple moving average of $91.96 and a two-hundred day simple moving average of $80.58.
Ingersoll Rand (NYSE:IR – Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.66% and a net margin of 11.85%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. On average, equities analysts anticipate that Ingersoll Rand will post 3.1 earnings per share for the current year.
Ingersoll Rand announced that its board has approved a stock repurchase program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares in the company, valued at approximately $1,478,326.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the sale, the insider now directly owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock valued at $26,374,789 over the last 90 days. Company insiders own 0.83% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in Ingersoll Rand during the third quarter worth $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the 4th quarter valued at about $27,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $28,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $28,000. Finally, Riverview Trust Co purchased a new position in Ingersoll Rand in the first quarter worth $29,000. 95.27% of the stock is owned by institutional investors.
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.