Ingersoll Rand (NYSE:IR) Given “Hold” Rating at Cfra

Ingersoll Rand (NYSE:IR)‘s stock had its “hold” rating restated by research analysts at Cfra in a research note issued to investors on Friday, Benzinga reports. They presently have a $85.00 target price on the industrial products company’s stock. Cfra’s price objective indicates a potential downside of 2.77% from the stock’s previous close.

Several other equities analysts have also recently commented on IR. Citigroup upped their price target on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Robert W. Baird raised their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Wells Fargo & Company decreased their price objective on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Friday. Finally, Stifel Nicolaus lifted their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.08.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded down $3.81 during mid-day trading on Friday, hitting $87.42. The company had a trading volume of 6,031,715 shares, compared to its average volume of 2,672,670. The stock has a market cap of $35.27 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 2.95 and a beta of 1.45. Ingersoll Rand has a 12 month low of $59.20 and a 12 month high of $101.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The firm’s 50 day simple moving average is $93.79 and its two-hundred day simple moving average is $90.79.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 13.08% and a net margin of 11.73%. As a group, equities research analysts forecast that Ingersoll Rand will post 3.17 earnings per share for the current year.

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Vicente Reynal sold 198,486 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the sale, the insider now directly owns 100,367 shares in the company, valued at $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the sale, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand during the second quarter valued at about $25,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $27,000. Kapitalo Investimentos Ltda purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at approximately $28,000. Headlands Technologies LLC purchased a new position in shares of Ingersoll Rand during the 1st quarter valued at approximately $28,000. Finally, Riverview Trust Co purchased a new position in shares of Ingersoll Rand during the 1st quarter valued at approximately $29,000. 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.