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

Ingersoll Rand (NYSE:IRGet Free Report) had its target price decreased by analysts at Citigroup from $119.00 to $115.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 28.64% from the company’s current price.

Several other research analysts also recently weighed in on IR. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Robert W. Baird lowered their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target for the company. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company cut their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Get Our Latest Research Report on Ingersoll Rand

Ingersoll Rand Trading Up 1.4 %

Shares of Ingersoll Rand stock opened at $89.40 on Monday. The stock has a market capitalization of $36.03 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. Ingersoll Rand has a 52 week low of $76.64 and a 52 week high of $106.03. The stock has a 50 day moving average price of $98.07 and a two-hundred day moving average price of $95.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand in the 3rd quarter worth about $34,000. Eastern Bank bought a new position in Ingersoll Rand during the third quarter worth about $42,000. Kimelman & Baird LLC bought a new stake in shares of Ingersoll Rand in the second quarter valued at approximately $57,000. Princeton Global Asset Management LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter valued at approximately $65,000. Finally, Versant Capital Management Inc boosted its holdings in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after buying an additional 589 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ingersoll Rand (NYSE:IR)

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