Evercore ISI Cuts Ingersoll Rand (NYSE:IR) Price Target to $91.00

Ingersoll Rand (NYSE:IR) had its target price decreased by Evercore ISI from $100.00 to $91.00 in a research note released on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on IR. Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird lifted their target price on Ingersoll Rand from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup reduced their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus reduced their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $104.75.

Ingersoll Rand Price Performance

Shares of IR stock opened at $83.66 on Wednesday. Ingersoll Rand has a 52-week low of $83.26 and a 52-week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29. The firm has a market capitalization of $33.72 billion, a P/E ratio of 40.61, a P/E/G ratio of 3.47 and a beta of 1.43. The stock has a 50 day moving average price of $91.15 and a 200 day moving average price of $94.93.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. As a group, sell-side analysts predict that Ingersoll Rand will post 3.31 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 annualized dividend and a yield of 0.10%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IR. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand during the 3rd quarter valued at about $34,000. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $36,000. OFI Invest Asset Management purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $38,000. Eastern Bank purchased a new stake in Ingersoll Rand during the 3rd quarter valued at about $42,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $42,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

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.