Wells Fargo & Company Lowers Ingersoll Rand (NYSE:IR) Price Target to $105.00

Ingersoll Rand (NYSE:IR - Get Free Report) had its price objective cut by equities research analysts at Wells Fargo & Company from $115.00 to $105.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price target indicates a potential upside of 17.96% from the stock's current price.

A number of other equities research analysts have also issued reports on IR. Citigroup lifted their target price on Ingersoll Rand from $112.00 to $119.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Cfra boosted their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Barclays raised their target price on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Finally, Stifel Nicolaus downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and lowered their target price for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.25.

Ingersoll Rand Stock Down 2.5 %

IR traded down $2.26 during trading on Tuesday, hitting $89.01. The company had a trading volume of 3,893,061 shares, compared to its average volume of 2,587,240. The firm's 50-day moving average price is $98.97 and its 200 day moving average price is $95.85. The company has a market capitalization of $35.87 billion, a PE ratio of 43.42, a PEG ratio of 3.84 and a beta of 1.44. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a one year low of $74.01 and a one year high of $106.03.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors and hedge funds have recently modified their holdings of the business. Wealthspire Advisors LLC boosted its holdings in Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company's stock valued at $206,000 after purchasing an additional 119 shares during the period. Kanawha Capital Management LLC boosted its stake in shares of Ingersoll Rand by 2.4% in the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company's stock valued at $500,000 after buying an additional 119 shares during the period. Opal Wealth Advisors LLC grew its position in Ingersoll Rand by 6.0% during the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company's stock worth $211,000 after buying an additional 121 shares in the last quarter. Asio Capital LLC increased its stake in Ingersoll Rand by 0.3% during the 3rd quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company's stock worth $4,327,000 after acquiring an additional 133 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in Ingersoll Rand by 5.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,821 shares of the industrial products company's stock valued at $277,000 after acquiring an additional 144 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.