Wells Fargo & Company Lowers Ingersoll Rand (NYSE:IR) Price Target to $90.00
by Danessa Lincoln · The Markets DailyIngersoll Rand (NYSE:IR – Get Free Report) had its target price decreased by equities researchers at Wells Fargo & Company from $110.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.78% from the company’s current price.
IR has been the subject of a number of other reports. Zacks Research raised shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Wall Street Zen upgraded Ingersoll Rand from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Barclays increased their price target on Ingersoll Rand from $91.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Robert W. Baird set a $115.00 price target on Ingersoll Rand in a report on Tuesday, February 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Hold” and a consensus target price of $99.00.
View Our Latest Analysis on IR
Ingersoll Rand Stock Up 1.4%
NYSE IR traded up $1.12 on Wednesday, reaching $81.24. The company had a trading volume of 851,072 shares, compared to its average volume of 3,794,367. The company has a quick ratio of 1.49, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average is $89.41 and its 200 day moving average is $83.37. Ingersoll Rand has a 52-week low of $65.61 and a 52-week high of $100.96. The stock has a market capitalization of $31.82 billion, a P/E ratio of 56.03, a P/E/G ratio of 4.74 and a beta of 1.29.
Ingersoll Rand (NYSE:IR – Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. Ingersoll Rand had a net margin of 7.60% and a return on equity of 12.62%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. Sell-side analysts anticipate that Ingersoll Rand will post 3.32 earnings per share for the current fiscal year.
Insider Buying and Selling at Ingersoll Rand
In other news, insider Elizabeth Meloy Hepding sold 18,246 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $97.11, for a total transaction of $1,771,869.06. Following the transaction, the insider owned 16,200 shares of the company’s stock, valued at $1,573,182. This represents a 52.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Scheske sold 19,122 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $97.67, for a total value of $1,867,645.74. Following the transaction, the chief accounting officer owned 12,153 shares of the company’s stock, valued at $1,186,983.51. The trade was a 61.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 584,771 shares of company stock valued at $54,976,547 in the last quarter. Insiders own 0.68% of the company’s stock.
Institutional Investors Weigh In On Ingersoll Rand
Several institutional investors have recently added to or reduced their stakes in IR. World Investment Advisors purchased a new position in shares of Ingersoll Rand in the fourth quarter worth about $231,000. Reflection Asset Management purchased a new position in Ingersoll Rand in the 4th quarter valued at approximately $31,000. Groupama Asset Managment grew its stake in Ingersoll Rand by 1.7% in the 4th quarter. Groupama Asset Managment now owns 8,146 shares of the industrial products company’s stock valued at $645,000 after buying an additional 140 shares in the last quarter. MidFirst Bank bought a new stake in Ingersoll Rand during the 4th quarter valued at $40,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Ingersoll Rand by 18.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,791,309 shares of the industrial products company’s stock worth $1,726,308,000 after acquiring an additional 3,423,501 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.
Ingersoll Rand Company Profile
Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.
Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.