Wells Fargo & Company Lowers Ingersoll Rand (NYSE:IR) Price Target to $105.00

Ingersoll Rand (NYSE:IR) had its price target dropped by research analysts at Wells Fargo & Company from $115.00 to $105.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.21% from the company’s current price.

A number of other research firms also recently issued reports on IR. Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Robert W. Baird dropped 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 note on Monday, November 4th. UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Finally, Barclays upped their price objective on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.25.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded down $1.69 during midday trading on Tuesday, hitting $89.58. The stock had a trading volume of 257,728 shares, compared to its average volume of 1,666,166. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 52-week low of $74.01 and a 52-week high of $106.03. The company has a market capitalization of $36.10 billion, a PE ratio of 43.70, a P/E/G ratio of 3.84 and a beta of 1.42. The firm’s fifty day moving average is $98.97 and its two-hundred day moving average is $95.85.

Insider Buying and Selling

In other Ingersoll Rand 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 value 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingersoll Rand

A number of hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Ingersoll Rand in the 3rd quarter valued at approximately $34,000. Eastern Bank acquired a new position in Ingersoll Rand in the third quarter valued at approximately $42,000. Kimelman & Baird LLC acquired a new stake in Ingersoll Rand during the second quarter worth $57,000. Princeton Global Asset Management LLC purchased a new stake in Ingersoll Rand in the third quarter valued at $65,000. Finally, Versant Capital Management Inc lifted its stake in shares of Ingersoll Rand by 654.4% in the 4th 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 last quarter. 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.