Stifel Nicolaus Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price objective reduced by analysts at Stifel Nicolaus from $107.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 7.27% from the company’s current price.

Several other research firms have also issued reports on IR. Wells Fargo & Company dropped their price objective on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays reduced their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird cut their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group raised their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Citigroup lowered their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $105.92.

Ingersoll Rand Price Performance

Shares of NYSE IR traded down $0.84 on Friday, hitting $93.22. The company’s stock had a trading volume of 215,620 shares, compared to its average volume of 2,306,550. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company has a market capitalization of $37.57 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 3.73 and a beta of 1.44. The stock has a 50 day moving average of $96.68 and a 200-day moving average of $95.77. Ingersoll Rand has a 12-month low of $78.69 and a 12-month high of $106.03.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of large investors have recently bought and sold shares of IR. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand in the third quarter worth about $34,000. Eastern Bank bought a new position in Ingersoll Rand during the third quarter valued at approximately $42,000. UMB Bank n.a. raised its position in Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares during the period. Kimelman & Baird LLC purchased a new stake in Ingersoll Rand during the second quarter valued at approximately $57,000. Finally, Versant Capital Management Inc raised its position in Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares during the period. 95.27% of the stock is owned by hedge funds and other 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.