Ingersoll-Rand Plc Price Target Raised to $73.00 at MKM Partners (IR)
Research analysts at MKM Partners lifted their price target on shares of Ingersoll-Rand Plc (NYSE:IR) from $66.00 to $73.00 in a report released on Thursday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. MKM Partners’ price objective points to a potential upside of 12.00% from the company’s current price.
Shares of Ingersoll-Rand Plc (NYSE:IR) traded down 0.78% during mid-day trading on Thursday, hitting $64.67. The stock had a trading volume of 350,208 shares. Ingersoll-Rand Plc has a 52 week low of $43.85 and a 52 week high of $66.62. The stock’s 50-day moving average is $62.75 and its 200-day moving average is $58.38. The company has a market cap of $18.821 billion and a price-to-earnings ratio of 20.59.
Ingersoll-Rand Plc (NYSE:IR) last issued its quarterly earnings data on Friday, July 19th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Ingersoll-Rand Plc will post $3.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, October 30th.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Ingersoll-Rand Plc (NYSE:IR) from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday, September 11th. They now have a $72.00 price target on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Ingersoll-Rand Plc (NYSE:IR) from $66.00 to $72.00 in a research note to investors on Tuesday, August 13th. They now have an “outperform” rating on the stock. Finally, analysts at ISI Group downgraded shares of Ingersoll-Rand Plc (NYSE:IR) from a “strong-buy” rating to a “neutral” rating in a research note to investors on Friday, August 9th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Ingersoll-Rand Plc presently has an average rating of “Hold” and a consensus price target of $64.23.
Ingersoll-Rand plc (NYSE:IR) is a diversified, global company that provides products, services and solutions to enhance the comfort of air in homes and buildings, transport and protect food and perishables, secure homes and commercial properties.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.