Barclays Has Lowered Expectations for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its price target decreased by equities research analysts at Barclays from $120.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target would suggest a potential upside of 28.94% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Citigroup upped their price target on Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. UBS Group started coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Finally, Cfra increased their price target on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.83.

Ingersoll Rand Price Performance

NYSE IR opened at $89.19 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 12 month low of $74.58 and a 12 month high of $106.03. The stock has a market cap of $35.94 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 3.84 and a beta of 1.44. The company’s 50 day moving average is $98.50 and its two-hundred day moving average is $95.73.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll Rand by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the period. International Assets Investment Management LLC grew its stake in Ingersoll Rand by 9,681.5% in the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock worth $353,720,000 after purchasing an additional 356,665 shares in the last quarter. Franklin Resources Inc. increased its holdings in Ingersoll Rand by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after purchasing an additional 278,710 shares during the period. Finally, Nordea Investment Management AB raised its position in Ingersoll Rand by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Company Profile

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.