Ingersoll-Rand PLC Given Average Rating of “Hold” by Analysts (NYSE:IR)
Shares of Ingersoll-Rand PLC (NYSE:IR) have been given an average recommendation of “Hold” by the nineteen brokerages that are covering the company, American Banking News.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $66.06.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 59.60 on Friday. Ingersoll-Rand PLC has a 52 week low of $41.5575 and a 52 week high of $63.42. The stock’s 50-day moving average is $57.7 and its 200-day moving average is $57.38. The company has a market cap of $16.571 billion and a P/E ratio of 1324.44. Ingersoll-Rand PLC also saw a significant decrease in short interest in January. As of March 31st, there was short interest totalling 2,554,262 shares, a decrease of 37.7% from the March 14th total of 4,100,280 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average trading volume of 2,923,509 shares, the short-interest ratio is presently 0.9 days.
Ingersoll-Rand PLC (NYSE:IR) last announced its earnings results on Wednesday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.03. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter last year, the company posted $0.42 earnings per share. Ingersoll-Rand PLC’s revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that Ingersoll-Rand PLC will post $3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, June 11th.
In other Ingersoll-Rand PLC news, CEO Michael Lamach sold 62,673 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $59.34, for a total transaction of $3,719,015.82. Following the completion of the transaction, the chief executive officer now directly owns 237,618 shares in the company, valued at approximately $14,100,252. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “equal weight” rating on shares of Ingersoll-Rand PLC in a research note on Thursday. They now have a $62.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Ingersoll-Rand PLC in a research note on Thursday. They now have a $64.00 price target on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Ingersoll-Rand PLC in a research note on Thursday. They now have a $70.00 price target on the stock.
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.