Ingersoll Rand (NYSE:IR) Rating Lowered to Hold at StockNews.com

Ingersoll Rand (NYSE:IR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company raised their target price on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Barclays raised their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Evercore ISI lowered Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their target price for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Cfra raised their target price on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Stock Performance

Shares of IR opened at $93.50 on Thursday. Ingersoll Rand has a 12 month low of $54.54 and a 12 month high of $96.17. The stock has a fifty day moving average price of $91.70 and a 200-day moving average price of $79.66. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The firm has a market cap of $37.72 billion, a PE ratio of 49.21, a P/E/G ratio of 3.22 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. Equities research analysts predict that Ingersoll Rand will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand announced that its board has approved a share buyback plan on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the sale, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew R. Schiesl sold 35,000 shares of Ingersoll Rand stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the sale, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock worth $26,374,789 in the last ninety days. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several institutional investors have recently bought and sold shares of IR. Global Retirement Partners LLC boosted its holdings in Ingersoll Rand by 11.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after buying an additional 191 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Ingersoll Rand by 4.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 15,214 shares of the industrial products company’s stock worth $969,000 after purchasing an additional 658 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth approximately $308,000. Caprock Group LLC boosted its holdings in shares of Ingersoll Rand by 16.5% during the 3rd quarter. Caprock Group LLC now owns 8,068 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 1,140 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its holdings in shares of Ingersoll Rand by 39.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 921 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 260 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.