Ingersoll Rand (NYSE:IR) Given New $57.00 Price Target at Robert W. Baird

Posted by Adam Dyson on Aug 6th, 2022

Ingersoll Rand (NYSE:IR – Get Rating) had its price target hoisted by Robert W. Baird from $52.00 to $57.00 in a research note issued to investors on Friday, The Fly reports.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Ingersoll Rand from a buy rating to a hold rating and raised their price objective for the stock from $50.00 to $52.00 in a research report on Friday. Morgan Stanley reduced their price objective on shares of Ingersoll Rand from $56.00 to $52.00 and set an overweight rating for the company in a research note on Tuesday, May 31st. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $50.00 to $49.00 in a research note on Tuesday, July 12th. Stifel Nicolaus reduced their price objective on shares of Ingersoll Rand from $56.00 to $50.00 and set a hold rating for the company in a research note on Monday, April 18th. Finally, Jefferies Financial Group reduced their price objective on shares of Ingersoll Rand from $60.00 to $55.00 in a research note on Friday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $53.18.

Ingersoll Rand Price Performance

Shares of IR opened at $49.79 on Friday. Ingersoll Rand has a twelve month low of $39.28 and a twelve month high of $62.64. The firm’s fifty day simple moving average is $44.77 and its 200-day simple moving average is $47.82. The firm has a market capitalization of $20.21 billion, a price-to-earnings ratio of 31.12 and a beta of 1.49. The company has a current ratio of 2.43, a quick ratio of 2.22 and a debt-to-equity ratio of 0.31.

Ingersoll Rand (NYSE:IR – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Ingersoll Rand had a net margin of 11.98% and a return on equity of 9.64%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the business earned $0.26 EPS. The company’s revenue was up 18.4% on a year-over-year basis. Equities analysts forecast that Ingersoll Rand will post 2.16 EPS for the current fiscal year.

Ingersoll Rand Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, August 17th will be issued a $0.032 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 0.26%. This is an increase from Ingersoll Rand’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, August 16th. Ingersoll Rand’s payout ratio is presently 5.00%.

Institutional Investors Weigh In On Ingersoll Rand

Institutional investors have recently bought and sold shares of the business. Masso Torrence Wealth Management Inc. purchased a new stake in Ingersoll Rand during the fourth quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Ingersoll Rand by 103.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 273 shares during the period. Prospera Financial Services Inc purchased a new position in shares of Ingersoll Rand in the first quarter valued at $27,000. Riverview Trust Co purchased a new position in shares of Ingersoll Rand in the first quarter valued at $28,000. Finally, CVA Family Office LLC boosted its stake in shares of Ingersoll Rand by 131.3% in the second quarter. CVA Family Office LLC now owns 740 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 420 shares during the period. 97.41% of the stock is currently owned by hedge funds and other institutional investors.

About Ingersoll Rand

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Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.