Barclays Lowers Ingersoll Rand (NYSE:IR) Price Target to $93.00

Ingersoll Rand (NYSE:IR) had its price objective reduced by equities research analysts at Barclays from $96.00 to $93.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 12.63% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup reduced their target price on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group raised their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company lowered their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird raised their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Evercore ISI lowered their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.09.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $82.57 on Wednesday. The firm has a 50 day moving average of $87.30 and a two-hundred day moving average of $93.89. The stock has a market capitalization of $33.28 billion, a PE ratio of 39.96, a P/E/G ratio of 3.50 and a beta of 1.48. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 52 week low of $79.79 and a 52 week high of $106.03.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. On average, research analysts predict that Ingersoll Rand will post 3.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Ingersoll Rand

A number of institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in Ingersoll Rand by 46.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,615 shares of the industrial products company’s stock worth $1,865,000 after purchasing an additional 6,507 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth about $11,694,000. Dogwood Wealth Management LLC grew its holdings in shares of Ingersoll Rand by 10.7% during the fourth quarter. Dogwood Wealth Management LLC now owns 5,767 shares of the industrial products company’s stock worth $522,000 after buying an additional 559 shares during the last quarter. Siemens Fonds Invest GmbH increased its position in Ingersoll Rand by 243.7% in the 4th quarter. Siemens Fonds Invest GmbH now owns 15,221 shares of the industrial products company’s stock valued at $1,377,000 after acquiring an additional 10,792 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in Ingersoll Rand during the 4th quarter valued at approximately $122,000. 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.