Barclays Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Key Points

• Barclays has lowered its price target for Ingersoll Rand from $92.00 to $91.00, maintaining an "overweight" rating, indicating a potential upside of 16.38% from the recent closing price.
• Ingersoll Rand's shares traded up 4.3% to $78.19, and the company reported earnings of $0.80 per share for the last quarter, matching analyst expectations.
• Institutional investors and hedge funds hold 95.27% of Ingersoll Rand's stock, highlighting strong investor confidence in the company's performance.

Ingersoll Rand (NYSE:IR - Get Free Report) had its price objective lowered by equities research analysts at Barclays from $92.00 to $91.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Barclays's price target indicates a potential upside of 16.38% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Melius lowered Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price on the stock. in a research report on Monday, July 14th. Stifel Nicolaus increased their price target on Ingersoll Rand from $78.00 to $95.00 and gave the company a "hold" rating in a report on Monday, July 21st. Citigroup restated a "buy" rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Finally, Robert W. Baird upped their target price on Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $100.17.

Ingersoll Rand Stock Up 4.3%

Shares of Ingersoll Rand stock traded up $3.21 during trading on Monday, reaching $78.19. 2,014,705 shares of the company traded hands, compared to its average volume of 2,942,516. The firm has a market capitalization of $31.55 billion, a PE ratio of 61.12, a P/E/G ratio of 3.15 and a beta of 1.41. Ingersoll Rand has a 1-year low of $65.61 and a 1-year high of $106.03. The company has a 50 day moving average price of $84.19 and a 200-day moving average price of $82.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.63.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $0.83 earnings per share. Ingersoll Rand's quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts expect that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the completion of the transaction, the insider directly owned 193,186 shares of the company's stock, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.78, for a total value of $293,230.00. Following the sale, the insider owned 10,986 shares in the company, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently modified their holdings of IR. Sowell Financial Services LLC purchased a new stake in Ingersoll Rand in the 1st quarter worth approximately $262,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Ingersoll Rand by 14.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock valued at $245,000 after buying an additional 385 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Ingersoll Rand by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock valued at $614,000 after buying an additional 660 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in Ingersoll Rand by 19.7% during the first quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company's stock valued at $946,000 after acquiring an additional 1,948 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Ingersoll Rand by 29.3% in the 1st quarter. Farther Finance Advisors LLC now owns 2,945 shares of the industrial products company's stock valued at $237,000 after purchasing an additional 667 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

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.

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