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

Ingersoll Rand (NYSE:IR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts also recently issued reports on the company. UBS Group boosted their price target on Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a report on Monday, January 29th. BNP Paribas began coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Ingersoll Rand in a report on Tuesday, March 26th. Cfra upped their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Finally, The Goldman Sachs Group raised their target price on Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Four 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 an average rating of “Moderate Buy” and an average price target of $92.73.

Ingersoll Rand Trading Down 6.6 %

Shares of Ingersoll Rand stock opened at $86.72 on Friday. The firm’s 50 day simple moving average is $91.96 and its two-hundred day simple moving average is $80.81. The firm has a market capitalization of $34.99 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 3.02 and a beta of 1.40. Ingersoll Rand has a 12-month low of $56.49 and a 12-month high of $96.17. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a return on equity of 12.66% and a net margin of 11.85%. Analysts predict that Ingersoll Rand will post 3.1 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares of the company’s stock, valued at approximately $1,478,326.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the business’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 completion of the transaction, the insider now owns 91,957 shares in the company, valued at $8,290,843.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 35,000 shares of the stock in a transaction on Monday, March 11th. The shares were 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 in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock worth $26,374,789 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of Ingersoll Rand

Hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand in the 3rd quarter valued at about $25,000. ANTIPODES PARTNERS Ltd purchased a new position in Ingersoll Rand in the fourth quarter valued at approximately $27,000. Quintet Private Bank Europe S.A. acquired a new stake in Ingersoll Rand during the 3rd quarter worth $28,000. Kapitalo Investimentos Ltda purchased a new stake in Ingersoll Rand in the fourth quarter valued at $28,000. Finally, Riverview Trust Co acquired a new position in Ingersoll Rand in the first quarter valued at $29,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.