Ingersoll-Rand Plc Rating Reiterated by Zacks (IR)
Ingersoll-Rand Plc (NYSE:IR)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Tuesday, Stock Ratings Network.com reports. They currently have a $67.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 4.26% from the stock’s previous close.
Zacks‘ analyst wrote, “Ingersoll reported strong second quarter 2013 results with adjusted earnings exceeding the Zacks Consensus Estimate by $0.06. Ingersoll is one of the leading players in most of its market categories. The company is realigning its operational structure to improve long-term growth prospects and provide higher margin opportunities. Ingersoll also expects to strengthen its position in existing markets through organic growth across the industry verticals. However, operating risks regarding high R&D costs for technology-driven products could weigh on the margins moving forward. Moreover, intense competitive pressure and uncertainties relating to the spin-off are likely to peg back its profitability. Nevertheless, we are initiating the report with a Neutral recommendation on the stock. “
A number of other firms have also recently commented on IR. Analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ingersoll-Rand Plc in a research note to investors on Monday. They now have a $72.00 price target on the stock. Separately, 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. Finally, 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, October 3rd. They now have a “buy” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.79.
Ingersoll-Rand Plc (NYSE:IR) traded down 1.87% during mid-day trading on Tuesday, hitting $63.06. The stock had a trading volume of 935,465 shares. Ingersoll-Rand Plc has a 1-year low of $43.85 and a 1-year 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 $18.352 billion and a P/E ratio of 20.30.
Ingersoll-Rand Plc (NYSE:IR) last posted its quarterly 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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