Ingersoll-Rand PLC Price Target Raised to $73.00 at Credit Suisse (IR)
Stock analysts at Credit Suisse boosted their price target on shares of Ingersoll-Rand PLC (NYSE:IR) from $70.00 to $73.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price points to a potential upside of 13.18% from the stock’s previous close.
Ingersoll-Rand PLC (NYSE:IR) opened at 64.50 on Wednesday. Ingersoll-Rand PLC has a 52-week low of $47.0607 and a 52-week high of $64.77. The stock’s 50-day moving average is $62.19 and its 200-day moving average is $59.76. The company has a market cap of $17.409 billion and a P/E ratio of 29.79.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings data on Tuesday, July 22nd. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that Ingersoll-Rand PLC will post $3.22 EPS for the current fiscal year.
IR has been the subject of a number of other recent research reports. Analysts at Credit Agricole initiated coverage on shares of Ingersoll-Rand PLC in a research note on Friday, July 18th. They set a “buy” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Ingersoll-Rand PLC from $65.00 to $68.00 in a research note on Tuesday, July 15th. Finally, analysts at Morgan Stanley raised their price target on shares of Ingersoll-Rand PLC from $65.00 to $66.00 in a research note on Thursday, July 10th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ingersoll-Rand PLC presently has a consensus rating of “Hold” and a consensus price target of $66.67.
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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