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

Ingersoll Rand (NYSE:IR) had its price objective reduced by Citigroup from $94.00 to $91.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 19.18% from the stock’s previous close.

Several other research firms have also recently issued reports on IR. Wells Fargo & Company boosted their target price on Ingersoll Rand from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Morgan Stanley dropped their target price on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. Stifel Nicolaus boosted their target price on Ingersoll Rand from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Monday, October 20th. Robert W. Baird dropped their target price on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ingersoll Rand in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average price target of $96.64.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded up $0.03 on Monday, hitting $76.36. The stock had a trading volume of 2,873,193 shares, compared to its average volume of 3,064,574. Ingersoll Rand has a 52-week low of $65.61 and a 52-week high of $106.03. The company has a current ratio of 2.16, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock has a market cap of $30.35 billion, a price-to-earnings ratio of 56.57, a P/E/G ratio of 4.55 and a beta of 1.43. The company’s 50 day moving average price is $79.84 and its 200 day moving average price is $80.86.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.250-3.310 EPS. On average, research analysts anticipate that Ingersoll Rand will post 3.32 EPS for the current year.

Institutional Investors Weigh In On Ingersoll Rand

A number of large investors have recently bought and sold shares of IR. Compass Wealth Management LLC lifted its stake in shares of Ingersoll Rand by 62.8% during the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 137 shares during the period. NewSquare Capital LLC lifted its stake in shares of Ingersoll Rand by 150.7% during the 2nd quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 205 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in shares of Ingersoll Rand during the 3rd quarter worth $36,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Ingersoll Rand during the 3rd quarter worth $36,000. Finally, Larson Financial Group LLC lifted its stake in shares of Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.