Wells Fargo & Company Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price target dropped by equities researchers at Wells Fargo & Company from $115.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.73% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. The Goldman Sachs Group lifted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Barclays lifted their target price 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.83.

Ingersoll Rand Trading Up 0.0 %

NYSE IR opened at $89.19 on Tuesday. Ingersoll Rand has a 12-month low of $74.58 and a 12-month high of $106.03. The company has a fifty day simple moving average of $98.64 and a two-hundred day simple moving average of $95.78. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $35.94 billion, a P/E ratio of 43.51, a P/E/G ratio of 3.84 and a beta of 1.44.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wealthspire Advisors LLC increased its stake in Ingersoll Rand by 5.5% during the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 119 shares during the period. Kanawha Capital Management LLC increased its stake in Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after buying an additional 119 shares during the period. Opal Wealth Advisors LLC lifted its holdings in Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock worth $211,000 after buying an additional 121 shares in the last quarter. Asio Capital LLC boosted its position in Ingersoll Rand by 0.3% in the 3rd quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company’s stock valued at $4,327,000 after buying an additional 133 shares during the period. Finally, GHP Investment Advisors Inc. grew its stake in shares of Ingersoll Rand by 5.4% in the third quarter. GHP Investment Advisors Inc. now owns 2,821 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 144 shares in 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.