Ingersoll Rand (NYSE:IR) Price Target Lowered to $93.00 at Barclays

Ingersoll Rand (NYSE:IR) had its price objective reduced by equities researchers at Barclays from $96.00 to $93.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would suggest a potential upside of 12.63% from the stock’s previous close.

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

Ingersoll Rand Trading Up 0.4 %

Shares of Ingersoll Rand stock opened at $82.57 on Wednesday. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of 39.96, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. Ingersoll Rand has a 52-week low of $79.79 and a 52-week high of $106.03. The company’s 50-day simple moving average is $87.30 and its 200-day simple moving average is $93.89. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. As a group, equities research analysts anticipate that Ingersoll Rand will post 3.32 earnings per share for the current year.

Institutional Trading of Ingersoll Rand

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Ingersoll Rand during the 4th quarter worth about $36,000. OFI Invest Asset Management acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $38,000. Lee Danner & Bass Inc. acquired a new stake in Ingersoll Rand during the fourth quarter worth approximately $42,000. Ancora Advisors LLC raised its holdings in Ingersoll Rand by 144.8% in the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 294 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Ingersoll Rand during the 4th quarter worth $50,000. 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.