Ingersoll-Rand PLC (Ireland) (IR) Rating Increased to Hold at Zacks Investment Research
Ingersoll-Rand PLC (Ireland) (NYSE:IR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Ingersoll has underperformed the industry year to date. Operating risks from high R&D costs for technology-driven products are expected to weigh on margins in the quarters ahead. Ingersoll is also likely to be stifled by the renegotiated deals and restrictions imposed on trade with other European Union members post Brexit referendum. In addition, restructuring actions are likely to lead to near-term earnings dilution for the company. However, Ingersoll is focusing on improving the efficiencies and capabilities of products and services within its core businesses to improve profitability. The geographic and industrial diversity coupled with a large installed product base provides ample growth opportunities within service, spare parts and replacement revenue streams. Furthermore, a robust operating platform and an efficient management team will likely drive net asset value and dividend growth in the future.”
A number of other equities research analysts also recently issued reports on IR. Credit Suisse Group reiterated a “buy” rating and issued a $105.00 price objective on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. Wolfe Research initiated coverage on Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. J P Morgan Chase & Co cut Ingersoll-Rand PLC (Ireland) from an “overweight” rating to a “neutral” rating in a research report on Wednesday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $103.00 target price (up from $98.00) on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, September 7th. Finally, ValuEngine upgraded Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $99.22.
Ingersoll-Rand PLC (IR) opened at 90.14 on Monday. Ingersoll-Rand PLC has a 52-week low of $63.87 and a 52-week high of $94.39. The firm has a 50-day moving average price of $87.24 and a 200-day moving average price of $87.52. The company has a market cap of $22.87 billion, a PE ratio of 22.38 and a beta of 1.33.
Ingersoll-Rand PLC (Ireland) (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.78 billion. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. On average, analysts forecast that Ingersoll-Rand PLC will post $4.54 EPS for the current year.
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In related news, Director Richard J. Swift sold 2,500 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.03, for a total value of $220,075.00. Following the transaction, the director now owns 65,932 shares in the company, valued at approximately $5,803,993.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Didier P. Teirlinck sold 26,174 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $86.10, for a total transaction of $2,253,581.40. Following the completion of the sale, the executive vice president now directly owns 131,129 shares of the company’s stock, valued at $11,290,206.90. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aviva PLC increased its holdings in shares of Ingersoll-Rand PLC (Ireland) by 1.1% in the second quarter. Aviva PLC now owns 163,875 shares of the industrial products company’s stock worth $14,982,000 after buying an additional 1,850 shares during the period. United Capital Financial Advisers LLC lifted its stake in shares of Ingersoll-Rand PLC (Ireland) by 2.4% in the 1st quarter. United Capital Financial Advisers LLC now owns 8,756 shares of the industrial products company’s stock valued at $712,000 after acquiring an additional 207 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Ingersoll-Rand PLC (Ireland) by 56.9% in the 2nd quarter. Amalgamated Bank now owns 29,501 shares of the industrial products company’s stock valued at $2,696,000 after acquiring an additional 10,702 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Ingersoll-Rand PLC (Ireland) by 15.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 43,190 shares of the industrial products company’s stock valued at $3,934,000 after acquiring an additional 5,650 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Ingersoll-Rand PLC (Ireland) in the 2nd quarter valued at about $2,321,000. Institutional investors and hedge funds own 80.56% of the company’s stock.
Ingersoll-Rand PLC (Ireland) Company Profile
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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