Wells Fargo & Company Increases Ingersoll Rand (NYSE:IR) Price Target to $86.00

Ingersoll Rand (NYSE:IR - Get Free Report) had its price target upped by stock analysts at Wells Fargo & Company from $80.00 to $86.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price target suggests a potential upside of 12.10% from the stock's previous close.

A number of other analysts also recently commented on IR. Evercore ISI decreased their price target on Ingersoll Rand from $100.00 to $91.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their target price on Ingersoll Rand from $109.00 to $88.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus cut their price target on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, Barclays dropped their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.64.

Ingersoll Rand Stock Performance

IR opened at $76.72 on Monday. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company's fifty day moving average price is $77.57 and its two-hundred day moving average price is $89.20. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 3.50 and a beta of 1.40. Ingersoll Rand has a 1-year low of $65.61 and a 1-year high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Ingersoll Rand's revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Ingersoll Rand will post 3.32 EPS for the current fiscal year.

Ingersoll Rand declared that its board has authorized a stock repurchase program 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 buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tributary Capital Management LLC grew its holdings in shares of Ingersoll Rand by 103.0% during the first quarter. Tributary Capital Management LLC now owns 5,075 shares of the industrial products company's stock worth $406,000 after purchasing an additional 2,575 shares in the last quarter. Cable Hill Partners LLC raised its position in shares of Ingersoll Rand by 6.8% during the 1st quarter. Cable Hill Partners LLC now owns 4,145 shares of the industrial products company's stock valued at $313,000 after buying an additional 265 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Ingersoll Rand by 0.3% during the 1st quarter. Victory Capital Management Inc. now owns 150,870 shares of the industrial products company's stock valued at $12,074,000 after buying an additional 379 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock worth $39,000 after acquiring an additional 285 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in Ingersoll Rand by 16.3% in the first quarter. Wealthfront Advisers LLC now owns 30,661 shares of the industrial products company's stock worth $2,454,000 after acquiring an additional 4,301 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other 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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