Ingersoll-Rand (IR) Coverage Initiated at Cowen

Cowen initiated coverage on shares of Ingersoll-Rand (NYSE:IR) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $111.00 price target on the industrial products company’s stock. Cowen’s target price suggests a potential upside of 22.11% from the company’s current price.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Friday, April 27th. Stifel Nicolaus boosted their price target on Ingersoll-Rand from $94.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Citigroup dropped their price target on Ingersoll-Rand from $110.00 to $109.00 and set a “buy” rating on the stock in a research note on Monday, April 9th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $99.00 price target on shares of Ingersoll-Rand in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $104.21.

Ingersoll-Rand opened at $90.90 on Tuesday, Marketbeat.com reports. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 0.52. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.59 and a beta of 1.34. Ingersoll-Rand has a fifty-two week low of $79.63 and a fifty-two week high of $97.67.



Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.19 billion. Ingersoll-Rand had a return on equity of 17.03% and a net margin of 8.96%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. research analysts forecast that Ingersoll-Rand will post 5.29 earnings per share for the current year.

In other news, insider Paul A. Camuti sold 3,100 shares of the company’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $90.00, for a total value of $279,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Marcia J. Avedon sold 10,460 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $92.00, for a total value of $962,320.00. Following the completion of the sale, the senior vice president now owns 113,288 shares in the company, valued at approximately $10,422,496. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. United Capital Financial Advisers LLC boosted its position in Ingersoll-Rand by 7.1% during the first quarter. United Capital Financial Advisers LLC now owns 8,600 shares of the industrial products company’s stock worth $735,000 after purchasing an additional 571 shares in the last quarter. Sentry Investment Management LLC boosted its position in Ingersoll-Rand by 3.3% during the first quarter. Sentry Investment Management LLC now owns 18,486 shares of the industrial products company’s stock worth $1,581,000 after purchasing an additional 595 shares in the last quarter. River Road Asset Management LLC boosted its position in Ingersoll-Rand by 20.5% during the first quarter. River Road Asset Management LLC now owns 3,644 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 621 shares in the last quarter. BB&T Securities LLC boosted its position in Ingersoll-Rand by 0.4% during the fourth quarter. BB&T Securities LLC now owns 155,136 shares of the industrial products company’s stock worth $13,836,000 after purchasing an additional 626 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Ingersoll-Rand by 4.2% during the first quarter. Meeder Asset Management Inc. now owns 16,333 shares of the industrial products company’s stock worth $1,396,000 after purchasing an additional 651 shares in the last quarter. Institutional investors own 79.53% of the company’s stock.

About Ingersoll-Rand

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

Analyst Recommendations for Ingersoll-Rand (NYSE:IR)

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