Ingersoll Rand (NYSE:IR) Stock Gets Price Target Cut from Robert W. Baird

Key Points

• Robert W. Baird lowered Ingersoll Rand’s price target from $109 to $107 while maintaining an “outperform” rating, implying 33.65% upside from the prior close.
• Analyst sentiment remains generally positive, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $95.
• Ingersoll Rand exceeded quarterly expectations, reporting $1.07 in EPS versus the $0.90 estimate and $2.06 billion in revenue, up 5.6% year over year.

Ingersoll Rand (NYSE:IR - Get Free Report) had its price target lowered by equities research analysts at Robert W. Baird from $109.00 to $107.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Robert W. Baird's price objective would indicate a potential upside of 33.65% from the company's previous close.

IR has been the topic of several other reports. Stifel Nicolaus set a $95.00 price target on Ingersoll Rand in a research note on Monday. Wall Street Zen lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Morgan Stanley set a $87.00 price objective on shares of Ingersoll Rand in a research note on Monday, August 10th. Citigroup reiterated a "buy" rating on shares of Ingersoll Rand in a research report on Monday, October 12th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Ingersoll Rand in a research note on Monday, October 19th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

Ingersoll Rand Trading Up 0.0%

NYSE IR opened at $80.06 on Monday. Ingersoll Rand has a twelve month low of $68.07 and a twelve month high of $100.96. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.38. The company has a market cap of $31.06 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 3.32 and a beta of 1.15. The business's fifty day moving average is $76.31 and its 200 day moving average is $81.25.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, October 29th. The industrial products company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.90 by $0.17. Ingersoll Rand had a return on equity of 13.47% and a net margin of 17.20%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned $0.86 EPS. The business's quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ingersoll Rand will post 3.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its holdings in shares of Ingersoll Rand by 6.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,658 shares of the industrial products company's stock worth $222,000 after purchasing an additional 160 shares in the last quarter. North Dakota State Investment Board grew its position in Ingersoll Rand by 1.4% in the 3rd quarter. North Dakota State Investment Board now owns 11,987 shares of the industrial products company's stock valued at $900,000 after purchasing an additional 165 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in Ingersoll Rand by 5.0% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 3,647 shares of the industrial products company's stock valued at $292,000 after purchasing an additional 174 shares in the last quarter. Personal CFO Solutions LLC increased its stake in Ingersoll Rand by 6.7% during the 1st quarter. Personal CFO Solutions LLC now owns 2,818 shares of the industrial products company's stock valued at $226,000 after purchasing an additional 176 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its stake in Ingersoll Rand by 1.9% during the 1st quarter. V Square Quantitative Management LLC now owns 11,145 shares of the industrial products company's stock valued at $893,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 95.27% of the company's stock.

Ingersoll Rand Company Profile

Ingersoll Rand Inc NYSE: IR is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.