Ingersoll-Rand PLC Given Consensus Recommendation of “Hold” by Brokerages (NYSE:IR)
Ingersoll-Rand PLC (NYSE:IR) has received a consensus rating of “Hold” from the seventeen ratings firms that are covering the company, Analyst Ratings Network reports. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $67.40.
IR has been the subject of a number of recent research reports. Analysts at ISI Group upgraded shares of Ingersoll-Rand PLC from a “neutral” rating to a “buy” rating in a research note on Thursday. They now have a $66.00 price target on the stock, up previously from $62.00. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 23rd. They now have a $65.00 price target on the stock, up previously from $61.00. Finally, analysts at Barclays raised their price target on shares of Ingersoll-Rand PLC from $62.00 to $64.00 in a research note on Wednesday, July 23rd. They now have an “equal weight” rating on the stock.
In other Ingersoll-Rand PLC news, Director Jared L. Cohon sold 10,080 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $61.53, for a total transaction of $620,222.40. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Ingersoll-Rand PLC (NYSE:IR) opened at 59.93 on Tuesday. 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 $61.77 and its 200-day moving average is $59.6. The company has a market cap of $16.032 billion and a P/E ratio of 28.45.
Ingersoll-Rand PLC (NYSE:IR) last announced its earnings results on Tuesday, July 22nd. The company reported $1.13 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.14 earnings per share. Ingersoll-Rand PLC’s revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that Ingersoll-Rand PLC will post $3.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.67%.
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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