Ingersoll Rand (NYSE:IR) Price Target Lowered to $88.00 at Citigroup

Ingersoll Rand (NYSE:IR) had its target price lowered by equities research analysts at Citigroup from $109.00 to $88.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price would suggest a potential upside of 19.94% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Evercore ISI cut their price target on shares of Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Barclays cut their target price on shares of Ingersoll Rand from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price objective on Ingersoll Rand from $94.00 to $77.00 and set a “hold” rating on the stock in a research report on Monday. Robert W. Baird raised their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

Ingersoll Rand Trading Up 0.5 %

NYSE IR traded up $0.37 during trading hours on Monday, hitting $73.37. The company’s stock had a trading volume of 1,751,823 shares, compared to its average volume of 2,557,090. The stock has a fifty day moving average of $81.94 and a 200 day moving average of $91.93. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $29.57 billion, a P/E ratio of 35.62, a PEG ratio of 3.50 and a beta of 1.40. Ingersoll Rand has a twelve month low of $65.61 and a twelve month 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). Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Equities research analysts forecast that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently bought and sold shares of IR. Global Wealth Strategies & Associates grew its holdings 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. Murphy & Mullick Capital Management Corp bought a new stake in Ingersoll Rand in the fourth quarter worth about $36,000. OFI Invest Asset Management bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at $38,000. Lee Danner & Bass Inc. bought a new stake in Ingersoll Rand in the 4th quarter valued at about $42,000. Finally, Ancora Advisors LLC grew its stake in Ingersoll Rand by 144.8% in the 4th 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 in the last quarter. 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.