Evercore ISI Cuts Ingersoll Rand (NYSE:IR) Price Target to $91.00

Ingersoll Rand (NYSE:IR) had its target price lowered by investment analysts at Evercore ISI from $100.00 to $91.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s price objective points to a potential upside of 5.27% from the company’s current price.

IR has been the topic of several other reports. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Barclays reduced their price target on shares of Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday. 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. Stifel Nicolaus reduced their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Robert W. Baird increased their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday. Seven investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Trading Down 0.4 %

Ingersoll Rand stock traded down $0.31 during trading on Wednesday, reaching $86.45. The company had a trading volume of 527,564 shares, compared to its average volume of 2,442,300. Ingersoll Rand has a 12-month low of $83.72 and a 12-month 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 stock’s 50 day moving average price is $92.11 and its two-hundred day moving average price is $95.08. The firm has a market capitalization of $34.84 billion, a price-to-earnings ratio of 41.98, a PEG 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 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts expect that Ingersoll Rand will post 3.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ingersoll Rand

A number of institutional investors have recently made changes to their positions in IR. Norges Bank bought a new position in Ingersoll Rand during the 4th quarter valued at $429,591,000. Capital International Investors raised its stake in shares of Ingersoll Rand by 4.6% in the 4th quarter. Capital International Investors now owns 36,673,865 shares of the industrial products company’s stock valued at $3,317,537,000 after purchasing an additional 1,606,363 shares in the last quarter. FMR LLC lifted its position in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Ingersoll Rand by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 12,277,177 shares of the industrial products company’s stock valued at $1,110,593,000 after buying an additional 679,856 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

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.