Ingersoll Rand (NYSE:IR) Stock Rating Lowered by StockNews.com

Ingersoll Rand (NYSE:IR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also issued reports on IR. UBS Group raised their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, January 29th. BNP Paribas began coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price for the company. Evercore ISI downgraded Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Finally, Barclays increased their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $86.73 on Friday. The company’s 50-day moving average price is $92.03 and its 200-day moving average price is $80.43. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The company has a market cap of $35.00 billion, a PE ratio of 45.65, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40. Ingersoll Rand has a twelve month low of $56.49 and a twelve month high of $96.17.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. On average, equities research analysts forecast that Ingersoll Rand will post 3.1 EPS for the current fiscal year.

Ingersoll Rand declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the sale, the insider now owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at $854,920. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock valued at $26,374,789 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IR. Greenleaf Trust increased its stake in Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares in the last quarter. Spire Wealth Management raised its stake in Ingersoll Rand by 8.5% in the 1st quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 126 shares during the last quarter. Stablepoint Partners LLC lifted its position in Ingersoll Rand by 2.4% during the 1st quarter. Stablepoint Partners LLC now owns 7,323 shares of the industrial products company’s stock worth $695,000 after acquiring an additional 169 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Ingersoll Rand by 17.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 173 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Ingersoll Rand by 4.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 4,333 shares of the industrial products company’s stock valued at $335,000 after purchasing an additional 193 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.