Ingersoll Rand (NYSE:IR) Price Target Raised to $106.00

Ingersoll Rand (NYSE:IR) had its price objective increased by Barclays from $104.00 to $106.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 10.99% from the company’s current price.

IR has been the topic of a number of other research reports. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a research report on Tuesday, March 26th. Robert W. Baird increased their price objective on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Citigroup increased their price objective on Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. BNP Paribas began coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, Wells Fargo & Company raised their target price on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $97.50.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $95.50 on Wednesday. Ingersoll Rand has a one year low of $59.20 and a one year high of $97.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The company has a market capitalization of $38.53 billion, a PE ratio of 47.51, a P/E/G ratio of 2.69 and a beta of 1.45. The company has a 50-day simple moving average of $91.95 and a two-hundred day simple moving average of $88.56.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. Research analysts expect that Ingersoll Rand will post 3.19 EPS for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Andrew R. Schiesl sold 22,369 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total transaction of $2,061,750.73. Following the sale, the insider now owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the first quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in shares of Ingersoll Rand in the first quarter valued at approximately $29,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $28,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Ingersoll Rand in the first quarter valued at approximately $35,000. 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.