Ingersoll Rand (NYSE:IR) Hits New 52-Week Low – What’s Next?

Ingersoll Rand Inc. (NYSE:IR)’s share price hit a new 52-week low on Thursday . The stock traded as low as $73.89 and last traded at $74.08, with a volume of 1377134 shares. The stock had previously closed at $81.70.

Wall Street Analyst Weigh In

IR has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays cut their price objective on Ingersoll Rand from $96.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Stifel Nicolaus decreased their target price on shares of Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, February 18th. Finally, Robert W. Baird boosted their price target on shares of Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average target price of $105.09.

Ingersoll Rand Stock Down 5.5 %

The company has a market cap of $28.02 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.48. The firm’s 50 day moving average price is $85.05 and its two-hundred day moving average price is $93.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were paid a $0.02 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.88%.

Hedge Funds Weigh In On Ingersoll Rand

Institutional investors have recently modified their holdings of the company. Global Wealth Strategies & Associates increased its stake in Ingersoll Rand by 325.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Ingersoll Rand during the fourth quarter worth about $36,000. OFI Invest Asset Management acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth about $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand in the 4th quarter worth about $42,000. Finally, Ancora Advisors LLC lifted its position in Ingersoll Rand by 144.8% in the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 294 shares in the last quarter. 95.27% of the stock is 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.