Ingersoll Rand FY2024 EPS Forecast Reduced by Zacks Research

Ingersoll Rand Inc. (NYSE:IR) – Analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of Ingersoll Rand in a note issued to investors on Monday, February 10th. Zacks Research analyst A. Bhattacharjee now anticipates that the industrial products company will earn $3.17 per share for the year, down from their previous estimate of $3.18. The consensus estimate for Ingersoll Rand’s current full-year earnings is $3.20 per share. Zacks Research also issued estimates for Ingersoll Rand’s Q4 2024 earnings at $0.80 EPS, Q3 2025 earnings at $0.85 EPS, Q4 2025 earnings at $0.91 EPS, Q1 2026 earnings at $0.76 EPS, Q2 2026 earnings at $0.87 EPS and FY2026 earnings at $3.53 EPS.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. The Goldman Sachs Group boosted their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird lowered their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.92.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $92.14 on Wednesday. The company has a fifty day simple moving average of $93.78 and a 200-day simple moving average of $95.36. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 44.95, a PEG ratio of 3.66 and a beta of 1.43. 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 52-week low of $83.72 and a 52-week high of $106.03.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock worth $1,789,376,000 after acquiring an additional 1,462,538 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $45,004,000. LPL Financial LLC increased its stake in shares of Ingersoll Rand by 204.0% during the fourth quarter. LPL Financial LLC now owns 706,886 shares of the industrial products company’s stock worth $63,945,000 after acquiring an additional 474,331 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Ingersoll Rand by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock worth $4,132,576,000 after purchasing an additional 446,591 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

About Ingersoll Rand

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.