Stifel Nicolaus Issues Pessimistic Forecast for Ingersoll Rand (NYSE:IR) Stock Price

Ingersoll Rand (NYSE:IR) had its target price cut by research analysts at Stifel Nicolaus from $107.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 7.27% from the stock’s previous close.

Several other research analysts have also recently weighed in on IR. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Robert W. Baird reduced their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group started coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded down $0.84 on Friday, hitting $93.22. The company’s stock had a trading volume of 215,620 shares, compared to its average volume of 2,306,550. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand has a 1 year low of $78.69 and a 1 year high of $106.03. The firm has a fifty day moving average price of $96.68 and a 200-day moving average price of $95.77. The company has a market capitalization of $37.57 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 3.73 and a beta of 1.44.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ingersoll Rand

A number of hedge funds have recently made changes to their positions in IR. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the third quarter worth approximately $34,000. Eastern Bank acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $42,000. UMB Bank n.a. lifted its stake in shares of Ingersoll Rand by 27.0% in the 4th quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 127 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Ingersoll Rand in the 2nd quarter valued at $57,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $65,000. Institutional investors 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.