Ingersoll Rand (NYSE:IR) Given New $95.00 Price Target at Stifel Nicolaus

Ingersoll Rand (NYSE:IR - Get Free Report) had its price objective lifted by Stifel Nicolaus from $78.00 to $95.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' target price would indicate a potential upside of 11.05% from the company's current price.

A number of other brokerages have also issued reports on IR. Barclays boosted their price target on shares of Ingersoll Rand from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company increased their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Citigroup reiterated a "buy" rating and issued a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Melius cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a research report on Monday, July 14th. Finally, Melius Research set a $93.00 price target on Ingersoll Rand in a research note on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $100.92.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $85.55 on Monday. The firm has a market capitalization of $34.52 billion, a price-to-earnings ratio of 42.35, a price-to-earnings-growth ratio of 3.61 and a beta of 1.43. The firm has a 50 day moving average of $83.71 and a 200 day moving average of $83.08. The company has a current ratio of 2.38, a quick ratio of 1.76 and a debt-to-equity ratio of 0.45. Ingersoll Rand has a 12-month low of $65.61 and a 12-month high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis. On average, research analysts anticipate that Ingersoll Rand will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its board has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction dated 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 sale, the insider owned 193,186 shares in the company, valued at approximately $16,040,233.58. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was 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 of the company's stock, 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 0.59% of the company's stock.

Institutional Trading of Ingersoll Rand

Several hedge funds have recently added to or reduced their stakes in the business. Rathbones Group PLC boosted its stake in Ingersoll Rand by 1.4% during the 1st quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock valued at $724,000 after purchasing an additional 121 shares during the period. EP Wealth Advisors LLC boosted its stake in Ingersoll Rand by 2.4% during the 1st quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company's stock valued at $474,000 after purchasing an additional 136 shares during the period. Compass Wealth Management LLC boosted its stake in Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 137 shares during the period. AdvisorNet Financial Inc boosted its stake in Ingersoll Rand by 0.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 18,708 shares of the industrial products company's stock valued at $1,556,000 after purchasing an additional 138 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Ingersoll Rand by 8.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,825 shares of the industrial products company's stock worth $165,000 after acquiring an additional 145 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.