Wells Fargo & Company Lowers Ingersoll Rand (NYSE:IR) Price Target to $98.00

Ingersoll Rand (NYSE:IR) had its target price decreased by research analysts at Wells Fargo & Company from $105.00 to $98.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.07% from the company’s previous close.

Several other research firms have also recently commented on IR. Barclays upped their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Robert W. Baird increased their price target on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup lifted their price objective on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, BNP Paribas assumed coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.82.

Ingersoll Rand Stock Up 1.5 %

NYSE:IR opened at $89.85 on Monday. The firm has a market capitalization of $36.26 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 3.02 and a beta of 1.40. Ingersoll Rand has a 52 week low of $56.49 and a 52 week high of $96.17. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $91.90 and a 200-day moving average of $81.21.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.76 billion. Analysts predict that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase 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 Activity at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the sale, the insider now owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total value of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock worth $26,374,789 in the last quarter. 0.83% of the stock is owned by company insiders.

Institutional Trading of Ingersoll Rand

Several institutional investors have recently made changes to their positions in the stock. Riverview Trust Co purchased a new stake in shares of Ingersoll Rand during the 1st quarter worth about $29,000. ANTIPODES PARTNERS Ltd bought a new position in Ingersoll Rand during the fourth quarter valued at approximately $27,000. Kapitalo Investimentos Ltda acquired a new stake in Ingersoll Rand in the fourth quarter valued at approximately $28,000. Scarborough Advisors LLC bought a new stake in Ingersoll Rand in the fourth quarter worth approximately $32,000. Finally, OFI Invest Asset Management acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth $25,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.