Ingersoll Rand (NYSE:IR) Price Target Increased to $105.00 by Analysts at Barclays

Ingersoll Rand (NYSE:IR) had its target price increased by Barclays from $101.00 to $105.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target points to a potential upside of 6.15% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group began coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Evercore ISI decreased their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Cfra reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a report on Friday, August 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.33.

Ingersoll Rand Trading Down 1.0 %

Shares of NYSE:IR 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. The firm has a market capitalization of $39.91 billion, a P/E ratio of 49.21, a P/E/G ratio of 2.75 and a beta of 1.42. The business’s 50-day moving average is $92.37 and its 200 day moving average is $92.70. Ingersoll Rand has a 1 year low of $59.20 and a 1 year high of $101.30.

Ingersoll Rand (NYSE:IR) last posted 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. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. On average, research analysts predict that Ingersoll Rand will post 3.21 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at approximately $344,571.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock worth $7,108,005 in the last ninety days. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IR. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand during the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $28,000. Headlands Technologies LLC acquired a new position in Ingersoll Rand in the 1st quarter valued at $28,000. Riverview Trust Co purchased a new position in Ingersoll Rand in the 1st quarter valued at $29,000. Finally, Scarborough Advisors LLC acquired a new stake in Ingersoll Rand during the 4th quarter worth $32,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

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.