Ingersoll Rand (NYSE:IR) PT Raised to $105.00 at Barclays

Ingersoll Rand (NYSE:IR) had its target price boosted by equities researchers at Barclays from $101.00 to $105.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price suggests a potential upside of 6.15% from the stock’s current price.

IR has been the topic of a number of other reports. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Robert W. Baird lifted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company dropped their price target on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Finally, Evercore ISI lowered their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $100.33.

Ingersoll Rand Stock Down 1.0 %

Shares of IR stock opened at $98.92 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. Ingersoll Rand has a one year low of $59.20 and a one year high of $101.30. The company’s fifty day moving average price is $92.37 and its 200-day moving average price is $92.70. The company has a market capitalization of $39.91 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 2.75 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Sell-side analysts expect that Ingersoll Rand will post 3.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IR. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ingersoll Rand by 24.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock worth $46,948,000 after purchasing an additional 96,982 shares during the period. Nomura Holdings Inc. raised its holdings in shares of Ingersoll Rand by 3,010.2% in the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock valued at $16,340,000 after acquiring an additional 204,481 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Ingersoll Rand in the first quarter worth about $1,221,000. Swedbank AB grew its holdings in Ingersoll Rand by 34.0% during the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after acquiring an additional 198,200 shares in the last quarter. Finally, Inspire Investing LLC bought a new position in Ingersoll Rand during the 1st quarter worth about $889,000. 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.