Free Trial

Ingersoll Rand (NYSE:IR) Given New $95.00 Price Target at Wells Fargo & Company

Ingersoll Rand logo with Industrials background

Ingersoll Rand (NYSE:IR - Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $86.00 to $95.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's target price indicates a potential upside of 13.21% from the stock's current price.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Citigroup increased their price objective on shares of Ingersoll Rand from $88.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Barclays reduced their price objective on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $98.70.

Get Our Latest Analysis on IR

Ingersoll Rand Trading Up 0.9%

Shares of NYSE IR traded up $0.74 during trading hours on Tuesday, reaching $83.92. The stock had a trading volume of 209,872 shares, compared to its average volume of 2,537,801. Ingersoll Rand has a 52-week low of $65.61 and a 52-week high of $106.03. The firm has a market cap of $33.86 billion, a price-to-earnings ratio of 41.54, a P/E/G ratio of 3.35 and a beta of 1.44. The business's fifty day moving average price is $80.61 and its two-hundred day moving average price is $83.63. 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 (NYSE:IR - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a return on equity of 12.33% and a net margin of 11.30%. Ingersoll Rand's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. Analysts expect that Ingersoll Rand will post 3.32 EPS for the current fiscal year.

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

Insider Activity

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

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IR. Sowell Financial Services LLC acquired a new position in shares of Ingersoll Rand in the first quarter valued at about $262,000. QRG Capital Management Inc. increased its holdings in 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 worth $614,000 after buying an additional 660 shares during the period. Vanguard Group Inc. raised its position in Ingersoll Rand by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company's stock worth $4,132,576,000 after buying an additional 446,591 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Ingersoll Rand during the 4th quarter valued at approximately $4,788,000. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Ingersoll Rand by 19.7% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Ingersoll Rand (NYSE:IR)

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.

Should You Invest $1,000 in Ingersoll Rand Right Now?

Before you consider Ingersoll Rand, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ingersoll Rand wasn't on the list.

While Ingersoll Rand currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Defense Stocks Under $10 With Massive Upside
NVIDIA: Another 200% Growth Ahead? (PLUS 2 Companies Riding Along)
3 Rising Stocks You’ll Want on Your Watchlist

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines