Ingersoll Rand (NYSE:IR) Price Target Cut to $78.00 by Analysts at Stifel Nicolaus

Key Points

• Analysts at Stifel Nicolaus have lowered the price target for Ingersoll Rand from $95.00 to $78.00, maintaining a "hold" rating, which indicates a potential downside from the current stock price.
• Ingersoll Rand reported a net margin of 7.10% and a revenue increase of 4.6% year-over-year for its last quarter, matching the consensus earnings estimate of $0.80 per share.
• Insider transactions included significant sales of shares by executives, with Elizabeth Meloy Hepding and Vicente Reynal reducing their holdings, raising concerns about insider sentiment towards the company's stock.

Ingersoll Rand (NYSE:IR - Get Free Report) had its price target lowered by equities researchers at Stifel Nicolaus from $95.00 to $78.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price target indicates a potential downside of 0.62% from the stock's current price.

Several other brokerages have also recently commented on IR. Melius cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a research note on Monday, July 14th. Melius Research set a $93.00 price objective on shares of Ingersoll Rand in a research note on Monday, July 14th. Robert W. Baird boosted their price target on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research note on Monday. Citigroup reissued a "buy" rating and issued a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Finally, Barclays cut their price target on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a research note on Monday. Seven investment 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, the company has an average rating of "Hold" and a consensus price target of $98.75.

Ingersoll Rand Price Performance

Shares of IR stock traded up $3.51 during trading hours on Monday, reaching $78.49. The stock had a trading volume of 3,034,700 shares, compared to its average volume of 2,949,531. The stock's fifty day simple moving average is $84.19 and its 200 day simple moving average is $82.77. The firm has a market capitalization of $31.67 billion, a PE ratio of 61.32, a PEG ratio of 3.15 and a beta of 1.41. Ingersoll Rand has a 12 month low of $65.61 and a 12 month high of $106.03. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. Ingersoll Rand's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. On average, equities research analysts predict that Ingersoll Rand will post 3.32 EPS for the current year.

Ingersoll Rand announced that its board has authorized a stock repurchase program on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, 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 value of $293,230.00. Following the completion of the sale, the insider directly owned 10,986 shares of the company's stock, valued at $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 38,657 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the sale, the insider owned 193,186 shares of the company's stock, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Ingersoll Rand

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rathbones Group PLC raised its holdings in Ingersoll Rand by 1.4% in the 1st quarter. Rathbones Group PLC now owns 9,044 shares of the industrial products company's stock worth $724,000 after purchasing an additional 121 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Ingersoll Rand by 2.4% in the 1st quarter. EP Wealth Advisors LLC now owns 5,918 shares of the industrial products company's stock worth $474,000 after purchasing an additional 136 shares in the last quarter. Compass Wealth Management LLC raised its holdings in Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock worth $28,000 after purchasing an additional 137 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in Ingersoll Rand by 0.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 18,708 shares of the industrial products company's stock worth $1,556,000 after purchasing an additional 138 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its holdings in Ingersoll Rand by 5.3% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,942 shares of the industrial products company's stock worth $235,000 after purchasing an additional 147 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

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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