Ingersoll Rand (NYSE:IR) Price Target Cut to $101.00

Ingersoll Rand (NYSE:IR) had its target price cut by investment analysts at Barclays from $106.00 to $101.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 15.53% from the company’s current price.

Several other analysts have also recently commented on the stock. Citigroup upped their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird upped their target price on shares of Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.08.

Ingersoll Rand Stock Performance

IR stock opened at $87.42 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.71. The company has a 50 day moving average price of $93.62 and a 200 day moving average price of $90.95. Ingersoll Rand has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The stock has a market capitalization of $35.27 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Analysts forecast that Ingersoll Rand will post 3.17 EPS for the current year.

Ingersoll Rand declared that its board has approved a share buyback program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the completion of the sale, the insider now directly 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 available at the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at approximately $2,843,075.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the completion of the transaction, the insider now directly owns 100,367 shares in the company, valued at $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 large investors have recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of Ingersoll Rand during the second quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $28,000. Headlands Technologies LLC bought a new position in shares of Ingersoll Rand during the first quarter worth approximately $28,000. Finally, Riverview Trust Co bought a new position in Ingersoll Rand in the first quarter valued at approximately $29,000. 95.27% of the stock is owned by 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.