Ingersoll-Rand (NYSE:IR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 23rd.
According to Zacks, “Ingersoll is focusing on improving the efficiencies and capabilities of products and services within its core businesses to improve profitability and reiterated its earlier bullish guidance on favorable growth dynamics. The geographic and industrial diversity coupled with a large installed product base provides ample growth opportunities within service, spare parts and replacement revenue streams. Furthermore, a robust operating platform and an efficient management team will likely drive net asset value and dividend growth in future. However, Ingersoll has underperformed the industry in the last three months. Operating risks from high R&D costs for technology-driven products are expected to weigh on margins and impair its long-term growth to some extent. Brexit could further result in higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering productivity of the company.”
Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird reissued a “hold” rating on shares of Ingersoll-Rand in a research report on Friday, November 17th. Royal Bank of Canada dropped their price target on shares of Ingersoll-Rand from $93.00 to $91.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Citigroup increased their price target on shares of Ingersoll-Rand from $98.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Stifel Nicolaus dropped their price target on shares of Ingersoll-Rand from $103.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Finally, Morgan Stanley cut shares of Ingersoll-Rand from an “overweight” rating to an “equal weight” rating and set a $98.00 price target for the company. in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Ingersoll-Rand has an average rating of “Hold” and an average price target of $102.92.
Ingersoll-Rand (NYSE:IR) traded up $0.13 during mid-day trading on Tuesday, hitting $90.39. 1,852,203 shares of the company traded hands, compared to its average volume of 1,941,010. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 1.27. Ingersoll-Rand has a 52 week low of $77.26 and a 52 week high of $97.67. The company has a market cap of $22,717.44, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.95 and a beta of 1.33.
Ingersoll-Rand (NYSE:IR) last released its earnings results on Wednesday, January 31st. The industrial products company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a net margin of 9.17% and a return on equity of 16.91%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the business posted $0.84 EPS. Ingersoll-Rand’s revenue for the quarter was up 7.7% on a year-over-year basis. equities analysts predict that Ingersoll-Rand will post 5.17 earnings per share for the current fiscal year.
In other news, Director Jared L. Cohon sold 2,350 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total value of $217,140.00. Following the completion of the sale, the director now directly owns 25,766 shares of the company’s stock, valued at approximately $2,380,778.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael W. Lamach sold 210,508 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total transaction of $18,583,646.24. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Calton & Associates Inc. purchased a new position in Ingersoll-Rand during the 4th quarter valued at about $112,000. Advisory Services Network LLC lifted its position in Ingersoll-Rand by 19.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,304 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 213 shares during the period. Resources Investment Advisors Inc. lifted its position in Ingersoll-Rand by 218.6% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 929 shares during the period. Valeo Financial Advisors LLC purchased a new position in Ingersoll-Rand during the 3rd quarter valued at about $152,000. Finally, Bessemer Group Inc. lifted its position in Ingersoll-Rand by 185.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,278 shares during the period. 81.71% of the stock is owned by institutional investors.
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Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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