Barclays Lowers Ingersoll Rand (NYSE:IR) Price Target to $91.00

Ingersoll Rand (NYSE:IR) had its price target lowered by investment analysts at Barclays from $92.00 to $91.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 17.06% from the stock’s current price.

Several other brokerages have also issued reports on IR. Citigroup reaffirmed a “buy” rating and set a $104.00 price objective (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Wells Fargo & Company raised their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Robert W. Baird boosted their price objective on Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research note on Monday. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a research report on Monday, July 14th. Finally, Melius downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a research 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.com, the company presently has a consensus rating of “Hold” and an average price target of $98.75.

Ingersoll Rand Stock Down 1.1%

Shares of IR opened at $77.74 on Monday. The company’s 50-day simple moving average is $84.05 and its 200-day simple moving average is $82.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. Ingersoll Rand has a 1 year low of $65.61 and a 1 year high of $106.03. The stock has a market capitalization of $30.90 billion, a PE ratio of 60.73, a P/E/G ratio of 3.30 and a beta of 1.41.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%. Ingersoll Rand’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 EPS. Analysts forecast that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand announced that its Board of Directors has authorized a share buyback plan 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 plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Elizabeth Meloy Hepding sold 3,500 shares of Ingersoll Rand stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total transaction of $293,230.00. Following the transaction, the insider owned 10,986 shares in the company, valued at approximately $920,407.08. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand 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 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 position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. NewSquare Capital LLC boosted its holdings in Ingersoll Rand by 150.7% in the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 205 shares during the period. Compass Wealth Management LLC raised its position in shares of Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock valued at $28,000 after buying an additional 137 shares during the last quarter. Global Wealth Strategies & Associates raised its position in shares of Ingersoll Rand by 325.0% during the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after buying an additional 286 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Ingersoll Rand by 190.9% in the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock valued at $38,000 after buying an additional 313 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its position in Ingersoll Rand by 54.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company’s stock worth $39,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds 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.