Ingersoll-Rand (NYSE:IR) Downgraded to “Hold” at Jefferies Financial Group

Ingersoll-Rand (NYSE:IR) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $140.00 price target on the industrial products company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 11.51% from the stock’s previous close. Jefferies Financial Group also issued estimates for Ingersoll-Rand’s FY2021 earnings at $7.65 EPS.

IR has been the subject of several other research reports. Wells Fargo & Co downgraded Ingersoll-Rand from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $110.00 to $113.00 in a research report on Monday, March 18th. They noted that the move was a valuation call. Deutsche Bank began coverage on Ingersoll-Rand in a research report on Wednesday, March 13th. They issued a “hold” rating and a $107.00 price objective for the company. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Barclays lifted their price objective on Ingersoll-Rand from $111.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Finally, ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Ingersoll-Rand currently has an average rating of “Buy” and an average price target of $124.97.

Ingersoll-Rand stock opened at $125.55 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.58 and a quick ratio of 1.14. The company has a market cap of $30.33 billion, a P/E ratio of 22.38, a PEG ratio of 1.84 and a beta of 1.26. Ingersoll-Rand has a one year low of $85.15 and a one year high of $128.00. The stock’s 50 day moving average is $123.09.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. Ingersoll-Rand’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. On average, sell-side analysts anticipate that Ingersoll-Rand will post 6.36 EPS for the current year.

In other news, insider David S. Regnery sold 7,957 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total transaction of $972,743.25. Following the completion of the sale, the insider now owns 58,735 shares in the company, valued at $7,180,353.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC raised its position in shares of Ingersoll-Rand by 1.3% during the first quarter. MorganRosel Wealth Management LLC now owns 7,163 shares of the industrial products company’s stock worth $773,000 after acquiring an additional 91 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Ingersoll-Rand by 10.0% during the first quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 101 shares during the last quarter. Cetera Advisor Networks LLC raised its position in shares of Ingersoll-Rand by 0.5% during the first quarter. Cetera Advisor Networks LLC now owns 26,743 shares of the industrial products company’s stock worth $2,884,000 after acquiring an additional 124 shares during the last quarter. First Manhattan Co. grew its stake in shares of Ingersoll-Rand by 5.2% during the first quarter. First Manhattan Co. now owns 2,851 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 141 shares during the period. Finally, Avitas Wealth Management LLC grew its stake in shares of Ingersoll-Rand by 0.4% during the first quarter. Avitas Wealth Management LLC now owns 40,118 shares of the industrial products company’s stock worth $4,331,000 after purchasing an additional 158 shares during the period. Institutional investors own 78.57% of the company’s stock.

About Ingersoll-Rand

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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