Morgan Stanley Increases Ingersoll-Rand PLC Price Target to $66.00 (IR)
Analysts at Morgan Stanley hoisted their price objective on shares of Ingersoll-Rand PLC (NYSE:IR) from $65.00 to $66.00 in a research report issued to clients and investors on Thursday. Morgan Stanley’s price objective points to a potential upside of 8.21% from the stock’s previous close.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 0.94% on Thursday, hitting $60.99. The stock had a trading volume of 1,969,911 shares. Ingersoll-Rand PLC has a 52 week low of $46.3179 and a 52 week high of $64.11. The stock has a 50-day moving average of $61.62 and a 200-day moving average of $59.70. The company has a market cap of $16.461 billion and a price-to-earnings ratio of 29.66.
Ingersoll-Rand PLC (NYSE:IR) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that Ingersoll-Rand PLC will post $3.22 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna initiated coverage on shares of Ingersoll-Rand PLC in a research note on Tuesday, June 24th. They set a “neutral” rating and a $70.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ingersoll-Rand PLC in a research note on Monday, April 28th. They now have a $62.00 price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, April 24th. They now have a $62.00 price target on the stock. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $66.81.
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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