Ingersoll Rand (NYSE:IR) Downgraded by TheStreet

Ingersoll Rand (NYSE:IRGet Rating) was downgraded by TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

IR has been the subject of a number of other reports. Barclays decreased their price objective on Ingersoll Rand from $67.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, April 4th. Robert W. Baird decreased their price target on Ingersoll Rand from $68.00 to $64.00 in a research note on Thursday, January 20th. Wolfe Research downgraded Ingersoll Rand from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 6th. Credit Suisse Group decreased their price target on Ingersoll Rand from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, February 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Ingersoll Rand from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 14th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand currently has an average rating of “Buy” and an average target price of $63.33.

NYSE:IR opened at $45.53 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.22 and a current ratio of 2.80. The company has a market cap of $18.56 billion, a PE ratio of 25.15 and a beta of 1.48. Ingersoll Rand has a 52-week low of $43.29 and a 52-week high of $62.64. The stock has a 50-day simple moving average of $47.99 and a 200 day simple moving average of $54.17.

Ingersoll Rand (NYSE:IRGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.29 billion. Ingersoll Rand had a return on equity of 8.35% and a net margin of 10.43%. Ingersoll Rand’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. On average, research analysts predict that Ingersoll Rand will post 2.15 earnings per share for the current fiscal year.

In other Ingersoll Rand news, insider Nicholas J. Kendall-Jones sold 6,000 shares of Ingersoll Rand stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $50.88, for a total value of $305,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sia Abbaszadeh sold 50,000 shares of Ingersoll Rand stock in a transaction on Monday, March 7th. The shares were sold at an average price of $45.69, for a total value of $2,284,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,105 shares of company stock valued at $4,248,009. 0.69% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Resonant Capital Advisors LLC raised its holdings in shares of Ingersoll Rand by 4.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,174 shares of the industrial products company’s stock worth $258,000 after buying an additional 190 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in shares of Ingersoll Rand by 2.1% during the 4th quarter. Banque Pictet & Cie SA now owns 10,212 shares of the industrial products company’s stock worth $632,000 after buying an additional 212 shares in the last quarter. Scotia Capital Inc. raised its holdings in shares of Ingersoll Rand by 2.4% during the 3rd quarter. Scotia Capital Inc. now owns 9,745 shares of the industrial products company’s stock worth $491,000 after buying an additional 225 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Ingersoll Rand by 43.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 771 shares of the industrial products company’s stock worth $47,000 after buying an additional 235 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its holdings in shares of Ingersoll Rand by 4.3% during the 4th quarter. Wetherby Asset Management Inc. now owns 5,720 shares of the industrial products company’s stock worth $354,000 after buying an additional 237 shares in the last quarter. 97.41% of the stock is owned by institutional investors.

Ingersoll Rand Company Profile (Get Rating)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

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Analyst Recommendations for Ingersoll Rand (NYSE:IR)

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