Ingersoll-Rand PLC Downgraded by Robert W. Baird to “Neutral” (IR)
Ingersoll-Rand PLC (NYSE:IR) was downgraded by equities researchers at Robert W. Baird to a “neutral” rating in a research report issued on Tuesday. They currently have a $65.00 price target on the stock, down from their previous price target of $68.00. Robert W. Baird’s price objective would indicate a potential upside of 4.54% from the company’s previous close.
Ingersoll-Rand PLC (NYSE:IR) opened at 62.18 on Tuesday. Ingersoll-Rand PLC has a 1-year low of $47.0607 and a 1-year high of $64.77. The stock’s 50-day moving average is $61.37 and its 200-day moving average is $59.70. The company has a market cap of $16.634 billion and a price-to-earnings ratio of 29.25.
Ingersoll-Rand PLC (NYSE:IR) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. 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. Investors 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 1.61%. The ex-dividend date is Wednesday, September 10th.
IR has been the subject of a number of other 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, August 7th. 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. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.40.
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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