Wells Fargo & Company Boosts Ingersoll Rand (NYSE:IR) Price Target to $95.00

Ingersoll Rand (NYSE:IR) had its price target lifted by investment analysts at Wells Fargo & Company from $83.00 to $95.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.37% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Melius Research set a $93.00 target price on Ingersoll Rand in a research report on Monday, July 14th. Morgan Stanley cut their target price on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Citigroup reiterated a “buy” rating and set a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Stifel Nicolaus set a $78.00 price target on Ingersoll Rand and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Melius cut Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research note on Monday, July 14th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.00.

Ingersoll Rand Stock Down 0.2%

Shares of IR traded down $0.15 during mid-day trading on Monday, hitting $83.80. 264,897 shares of the company’s stock were exchanged, compared to its average volume of 3,031,547. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of 65.59, a P/E/G ratio of 4.92 and a beta of 1.43. Ingersoll Rand has a twelve month low of $65.61 and a twelve month high of $106.03. The firm has a fifty day moving average of $80.29 and a two-hundred day moving average of $80.36.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. Ingersoll Rand’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. On average, sell-side analysts forecast that Ingersoll Rand will post 3.32 earnings per share for the current year.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC increased its position in shares of Ingersoll Rand by 12.3% during the 1st quarter. Merit Financial Group LLC now owns 2,841 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 312 shares during the last quarter. Wedmont Private Capital raised its position in shares of Ingersoll Rand by 9.4% in the 1st quarter. Wedmont Private Capital now owns 6,693 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 574 shares during the last quarter. UMB Bank n.a. increased its holdings in Ingersoll Rand by 56.0% in the 1st quarter. UMB Bank n.a. now owns 933 shares of the industrial products company’s stock worth $75,000 after buying an additional 335 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Ingersoll Rand by 29.3% in the first quarter. Farther Finance Advisors LLC now owns 2,945 shares of the industrial products company’s stock worth $237,000 after buying an additional 667 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of Ingersoll Rand during the 1st quarter worth about $303,000. 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.