Barclays Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price objective cut by research analysts at Barclays from $93.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 16.27% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company lowered their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus dropped their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, February 18th. Robert W. Baird upped their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group increased their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average target price of $104.36.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $73.11 on Thursday. The firm has a market capitalization of $29.47 billion, a P/E ratio of 35.49, a PEG ratio of 3.50 and a beta of 1.40. The business has a 50-day moving average of $81.94 and a 200-day moving average of $91.96. The company has a current ratio of 2.29, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 1 year low of $65.61 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. On average, equities analysts anticipate that Ingersoll Rand will post 3.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IR. Global Wealth Strategies & Associates grew its stake in shares of Ingersoll Rand by 325.0% in 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 in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Ingersoll Rand in the 4th quarter valued at about $36,000. OFI Invest Asset Management bought a new position in Ingersoll Rand during the fourth quarter worth about $38,000. Lee Danner & Bass Inc. acquired a new position in Ingersoll Rand during the fourth quarter worth approximately $42,000. Finally, Ancora Advisors LLC raised its stake in Ingersoll Rand by 144.8% in the fourth quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after buying an additional 294 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.