Ingersoll Rand (NYSE:IR) Price Target Cut to $100.00 by Analysts at Stifel Nicolaus

Ingersoll Rand (NYSE:IR) had its price objective cut by Stifel Nicolaus from $107.00 to $100.00 in a research report released on Friday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other equities analysts have also commented on IR. Barclays dropped their target price on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Cfra increased their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Citigroup lowered their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group started coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Ingersoll Rand Trading Down 1.0 %

NYSE IR opened at $93.11 on Friday. Ingersoll Rand has a 52 week low of $78.69 and a 52 week high of $106.03. The firm has a 50 day moving average of $96.51 and a two-hundred day moving average of $95.76. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $37.53 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 3.73 and a beta of 1.44.

Insider Activity

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

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand during the 3rd quarter worth $34,000. Eastern Bank acquired a new position in shares of Ingersoll Rand during the third quarter worth about $42,000. UMB Bank n.a. raised its holdings in Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Ingersoll Rand in the second quarter valued at about $57,000. Finally, Versant Capital Management Inc boosted its holdings in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares in the last quarter. 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.