Ingersoll Rand (NYSE:IR) Sets New 1-Year Low – Here’s Why

Ingersoll Rand Inc. (NYSE:IR)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $83.51 and last traded at $83.65, with a volume of 1174177 shares changing hands. The stock had previously closed at $86.77.

Analyst Ratings Changes

A number of research analysts have issued reports on IR shares. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. 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 note on Tuesday, January 7th. Evercore ISI reduced their price objective on Ingersoll Rand from $100.00 to $91.00 and set an “in-line” rating for the company in a research report on Wednesday. Robert W. Baird upped their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Barclays reduced their price objective on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Seven investment 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, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $104.75.

Ingersoll Rand Stock Down 3.6 %

The firm has a market cap of $33.72 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $91.15 and a 200-day moving average of $94.98.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Ingersoll Rand had a return on equity of 12.78% and a net margin of 11.59%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. On average, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be paid a $0.02 dividend. 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 is 3.88%.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently bought and sold shares of IR. Ashton Thomas Securities LLC bought a new stake in Ingersoll Rand in the third quarter valued at approximately $34,000. Murphy & Mullick Capital Management Corp bought a new stake in Ingersoll Rand in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management bought a new stake in Ingersoll Rand in the fourth quarter valued at approximately $38,000. Eastern Bank bought a new position in shares of Ingersoll Rand during the third quarter worth approximately $42,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Ingersoll Rand during the fourth quarter worth approximately $42,000. 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.