Wells Fargo & Company Boosts Ingersoll Rand (NYSE:IR) Price Target to $95.00

Key Points

• Wells Fargo & Company has increased its price target for Ingersoll Rand (NYSE:IR) from $83.00 to $95.00, indicating a potential upside of 13.37% from the current price.
• Ingersoll Rand's stock has received an average rating of "Moderate Buy" from analysts, with a consensus target price of $98.00.
• The company reported quarterly earnings of $0.80 per share, matching consensus estimates, and experienced a 4.6% year-over-year increase in revenue.

Ingersoll Rand (NYSE:IR - Get Free Report) had its price target lifted by analysts at Wells Fargo & Company from $83.00 to $95.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's target price suggests a potential upside of 13.37% from the company's current price.

IR has been the topic of several other reports. Morgan Stanley decreased their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Ingersoll Rand in a research note on Saturday, September 27th. Stifel Nicolaus set a $78.00 target price on Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Barclays cut their price objective on 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 cut Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Ingersoll Rand Stock Down 0.2%

IR traded down $0.15 during trading on Monday, reaching $83.80. The stock had a trading volume of 264,897 shares, compared to its average volume of 3,031,547. Ingersoll Rand has a one year low of $65.61 and a one year high of $106.03. The company has a market capitalization of $33.30 billion, a price-to-earnings ratio of 65.59, a P/E/G ratio of 4.92 and a beta of 1.43. The stock's 50 day moving average is $80.29 and its two-hundred day moving average is $80.36. 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 posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The firm 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 business earned $0.83 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. As a group, analysts expect that Ingersoll Rand will post 3.32 earnings per share for the current year.

Institutional Investors Weigh In On Ingersoll Rand

Several institutional investors have recently made changes to their positions in IR. Rathbones Group PLC increased its stake in shares of Ingersoll Rand by 1.4% during 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 increased its stake in shares of Ingersoll Rand by 2.4% in the first 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 last quarter. Compass Wealth Management LLC lifted its holdings 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 worth $28,000 after buying an additional 137 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in Ingersoll Rand by 0.7% in the second quarter. AdvisorNet Financial Inc now owns 18,708 shares of the industrial products company's stock worth $1,556,000 after acquiring an additional 138 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its position 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 valued at $235,000 after purchasing an additional 147 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

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