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

Ingersoll Rand (NYSE:IR) had its target price cut by stock analysts at Citigroup from $94.00 to $91.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 19.18% from the company’s current price.

Other analysts have also issued reports about the company. Wells Fargo & Company lifted their target price on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Melius downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research note on Monday, July 14th. Melius Research set a $93.00 target price on Ingersoll Rand in a research note on Monday, July 14th. Robert W. Baird cut their price target on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Stifel Nicolaus boosted their target price on Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a report on Monday, October 20th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $96.64.

Ingersoll Rand Trading Up 0.0%

Shares of IR traded up $0.03 during trading hours on Monday, hitting $76.36. The stock had a trading volume of 2,873,193 shares, compared to its average volume of 3,064,574. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16. The firm has a market cap of $30.35 billion, a P/E ratio of 56.57, a P/E/G ratio of 4.55 and a beta of 1.43. The company’s fifty day simple moving average is $79.84 and its 200 day simple moving average is $80.86. Ingersoll Rand has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. Equities research analysts forecast that Ingersoll Rand will post 3.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its position in shares of Ingersoll Rand by 14.4% during the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock valued at $245,000 after buying an additional 385 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Ingersoll Rand by 4.3% during the second quarter. Nordea Investment Management AB now owns 1,797,823 shares of the industrial products company’s stock valued at $149,920,000 after buying an additional 74,070 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ingersoll Rand by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock valued at $58,147,000 after buying an additional 91,777 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ingersoll Rand by 2.5% during the first quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock valued at $15,285,000 after buying an additional 4,690 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Ingersoll Rand by 1.8% during the first quarter. Mackenzie Financial Corp now owns 246,020 shares of the industrial products company’s stock valued at $19,689,000 after buying an additional 4,372 shares during the last quarter. Institutional investors and hedge funds 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.