Morgan Stanley Has Lowered Expectations for Ingersoll Rand (NYSE:IR) Stock Price

Key Points

• Morgan Stanley has lowered its price target for Ingersoll Rand from $88.00 to $85.00, maintaining an "equal weight" rating, suggesting a potential upside of 7.88% from the current price.
• Other analysts have given mixed ratings, with Barclays decreasing its target price to $91.00 while Robert W. Baird raised its target to $103.00, leading to a consensus rating of "Hold" and an average price target of $97.75.
• Ingersoll Rand recently reported earnings of $0.80 per share, matching consensus estimates and showing a revenue increase of 4.6% from the previous year, while also announcing a $1.00 billion share repurchase program.

Ingersoll Rand (NYSE:IR - Get Free Report) had its price objective decreased by stock analysts at Morgan Stanley from $88.00 to $85.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's price target points to a potential upside of 8.54% from the company's previous close.

A number of other research firms also recently commented on IR. Melius downgraded 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. Citigroup reaffirmed a "buy" rating and issued a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the company a "hold" rating in a report on Monday, August 4th. Barclays dropped their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand has an average rating of "Hold" and a consensus target price of $97.75.

Ingersoll Rand Trading Down 2.4%

IR stock traded down $1.89 during trading on Wednesday, hitting $78.31. The company had a trading volume of 2,917,999 shares, compared to its average volume of 3,540,641. The firm has a 50-day moving average price of $83.40 and a 200-day moving average price of $81.82. The stock has a market cap of $31.12 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 4.42 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 quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

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

Ingersoll Rand declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction that occurred 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 transaction, the insider directly owned 193,186 shares of the company's stock, valued at $16,040,233.58. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ingersoll Rand

A number of hedge funds have recently bought and sold shares of the company. Rathbones Group PLC boosted 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 buying an additional 121 shares during the period. EP Wealth Advisors LLC boosted 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 buying an additional 136 shares during the period. Compass Wealth Management LLC boosted 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 buying an additional 137 shares during the period. AdvisorNet Financial Inc boosted 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 buying an additional 138 shares during the period. Finally, Signature Estate & Investment Advisors LLC boosted 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 buying an additional 147 shares during the period. Institutional investors 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.