Ingersoll-Rand Plc Downgraded to Underperform at Zacks (IR)
Ingersoll-Rand Plc (NYSE:IR) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday, Analyst Ratings Network reports. They currently have a $57.00 price target on the stock. Zacks‘ price objective would indicate a potential downside of 9.35% from the company’s current price.
Zacks‘ analyst wrote, “We are changing our long-term recommendation for Ingersoll from Neutral to Underperform primarily due to downward estimate revisions. Intense competitive pressures, high operating costs, and speculative fears regarding the business model of the company post spin-off are deterrents in the short term. However, the geographic and industry diversity coupled with a large installed product base provides ample growth opportunities for Ingersoll within service, spare parts and replacement revenue streams. The structural changes in the company are further expected to unlock additional value. If Ingersoll can tide over the current negative investor perception, it can expect a steady reversal of fortunes in future.”
IR has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Ingersoll-Rand Plc in a research note to investors on Monday. Separately, analysts at Robert W. Baird cut their price target on shares of Ingersoll-Rand Plc from $72.00 to $65.00 in a research note to investors on Friday, January 3rd. Finally, analysts at RBC Capital cut their price target on shares of Ingersoll-Rand Plc from $71.00 to $63.00 in a research note to investors on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $66.75.
Ingersoll-Rand Plc (NYSE:IR) traded down 0.25% on Friday, hitting $62.725. The stock had a trading volume of 786,540 shares. Ingersoll-Rand Plc has a 52-week low of $40.0399 and a 52-week high of $63.42. The stock’s 50-day moving average is $59.47 and its 200-day moving average is $52.82. The company has a market cap of $18.070 billion and a price-to-earnings ratio of 23.38.
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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