Ingersoll-Rand Plc’s Buy Rating Reaffirmed at JPMorgan Chase & Co. (IR)
Ingersoll-Rand Plc (NYSE:IR)‘s stock had its “buy” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a report issued on Monday, Analyst Ratings Network.com reports. They currently have a $72.00 target price on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 12.04% from the stock’s previous close.
A number of other firms have also recently commented on IR. Analysts at Barclays Capital raised their price target on shares of Ingersoll-Rand Plc from $55.00 to $60.00 in a research note to investors on Monday. They now have an “equal weight” rating on the stock. Separately, analysts at MKM Partners raised their price target on shares of Ingersoll-Rand Plc from $66.00 to $73.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Ingersoll-Rand Plc 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. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ingersoll-Rand Plc currently has an average rating of “Hold” and an average price target of $64.62.
Ingersoll-Rand Plc (NYSE:IR) traded down 2.77% during mid-day trading on Monday, hitting $64.26. 1,362,505 shares of the company’s stock traded hands. Ingersoll-Rand Plc has a 52-week low of $43.85 and a 52-week high of $66.62. The stock has a 50-day moving average of $63.10 and a 200-day moving average of $58.61. The company has a market cap of $18.701 billion and a P/E ratio of 20.87.
Ingersoll-Rand Plc (NYSE:IR) last announced its earnings results on Friday, July 19th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.15 earnings per share. Ingersoll-Rand Plc’s revenue was up 2.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, October 30th.
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.
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