Ingersoll-Rand Plc Price Target Raised to $64.00 at Barclays (IR)
Analysts at Barclays lifted their price target on shares of Ingersoll-Rand Plc (NYSE:IR) from $60.00 to $64.00 in a research report issued to clients and investors on Monday, Analyst Ratings Network reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target would indicate a potential downside of 4.26% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG reiterated a “buy” rating on shares of Ingersoll-Rand Plc in a research note to investors on Monday. They now have a $74.00 price target on the stock, up previously from $71.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ingersoll-Rand Plc in a research note to investors on Tuesday, October 8th. They now have a $67.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ingersoll-Rand Plc in a research note to investors on Monday, October 7th. They now have a $72.00 price target on the stock. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $65.29.
Shares of Ingersoll-Rand Plc (NYSE:IR) traded up 0.87% during mid-day trading on Monday, hitting $67.4322. 1,062,501 shares of the company’s stock traded hands. Ingersoll-Rand Plc has a 52-week low of $44.65 and a 52-week high of $68.33. The stock’s 50-day moving average is $64.16 and its 200-day moving average is $59.14. The company has a market cap of $19.926 billion and a P/E ratio of 24.86.
Ingersoll-Rand Plc (NYSE:IR) last released its earnings data on Friday, October 18th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that Ingersoll-Rand Plc will post $3.59 earnings per share 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 1.26%. The ex-dividend date of this dividend 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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