Ingersoll Rand (NYSE:IR) Stock Rating Upgraded by Wolfe Research

Ingersoll Rand (NYSE:IR) was upgraded by equities research analysts at Wolfe Research to a “hold” rating in a research report issued on Friday, Zacks.com reports.

Other research analysts have also issued reports about the company. Stifel Nicolaus lifted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Robert W. Baird lifted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays reduced their price target on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company reduced their target price on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Morgan Stanley started coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Stock Performance

IR stock opened at $97.47 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The stock has a market capitalization of $39.32 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 2.53 and a beta of 1.42. Ingersoll Rand has a 1 year low of $59.20 and a 1 year high of $101.30. The stock’s fifty day moving average is $92.44 and its two-hundred day moving average is $92.32.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, research analysts predict that Ingersoll Rand will post 3.21 EPS for the current year.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

A number of hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. raised its position in shares of Ingersoll Rand by 19.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,620 shares of the industrial products company’s stock worth $238,000 after purchasing an additional 420 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Ingersoll Rand during the 2nd quarter worth approximately $1,038,000. Clearbridge Investments LLC bought a new position in shares of Ingersoll Rand during the 2nd quarter worth approximately $948,000. New Century Financial Group LLC bought a new stake in Ingersoll Rand in the 2nd quarter valued at $200,000. Finally, Cetera Investment Advisers boosted its stake in Ingersoll Rand by 5.5% in the 2nd quarter. Cetera Investment Advisers now owns 54,828 shares of the industrial products company’s stock valued at $4,981,000 after purchasing an additional 2,835 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.