Ingersoll-Rand (NYSE:IR) Rating Lowered to Sell at Zacks Investment Research – TechNewsObserver

Ingersoll-Rand (NYSE:IR) was downgraded by Zacks Investment Research from a hold rating to a sell rating in a research note issued to investors on Monday, Zacks.com reports. They presently have a $138.00 target price on the industrial products companys stock. Zacks Investment Researchs price objective indicates a potential upside of 7.74% from the companys previous close.

According to Zacks, Year to date, Ingersoll-Rand's shares have outperformed the industry. The company believes that stellar sales generated from the Commercial and residential HVAC markets will bolster revenues in the quarters ahead. Further, an effective operating system, pricing actions, investments on innovation and the Precision Flow Systems buyout are expected to boost profitability. For 2019, it expects adjusted earnings per share of $6.40. The company anticipates revenue growth of 5.5-6.5% for the year. However, material cost inflation, tariff-related woes and high debts will likely affect its performance in 2019. Interest expenses from senior notes offered in March 2019 are predicted to be $60 million ($47 million will be incurred in 2019). In the past 60 days, earnings estimates have declined for the fourth quarter of 2019 and the first quarter of 2020.

A number of other research analysts have also recently issued reports on the company. BMO Capital Markets set a $145.00 price objective on Ingersoll-Rand and gave the company a buy rating in a research note on Monday, November 4th. Barclays reissued a buy rating and issued a $134.00 target price on shares of Ingersoll-Rand in a research note on Friday, October 4th. Stephens cut Ingersoll-Rand from an overweight rating to an equal rating in a report on Monday, October 7th. Deutsche Bank lowered Ingersoll-Rand from a buy rating to a hold rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Finally, KeyCorp lifted their price target on Ingersoll-Rand from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the companys stock. The stock presently has a consensus rating of Buy and an average target price of $135.25.

Shares of IR opened at $128.09 on Monday. The firm has a market cap of $30.59 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 1.28. Ingersoll-Rand has a fifty-two week low of $85.15 and a fifty-two week high of $132.42. The firm has a 50 day moving average price of $126.33 and a 200-day moving average price of $122.97.

Ingersoll-Rand (NYSE:IR) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.91 by $0.08. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Ingersoll-Rand had a net margin of 8.38% and a return on equity of 21.72%. The firms quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.75 EPS. As a group, equities research analysts predict that Ingersoll-Rand will post 6.4 earnings per share for the current year.

In other news, SVP Keith A. Sultana sold 7,010 shares of the businesss stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $876,250.00. Following the transaction, the senior vice president now directly owns 19,608 shares of the companys stock, valued at $2,451,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marcia J. Avedon sold 7,450 shares of the companys stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $129.00, for a total value of $961,050.00. Following the transaction, the senior vice president now owns 99,075 shares of the companys stock, valued at approximately $12,780,675. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the companys stock.

A number of hedge funds have recently made changes to their positions in the stock. FDx Advisors Inc. bought a new position in shares of Ingersoll-Rand in the 2nd quarter worth approximately $226,000. Whittier Trust Co. lifted its position in Ingersoll-Rand by 3.3% during the second quarter. Whittier Trust Co. now owns 4,770 shares of the industrial products companys stock valued at $604,000 after buying an additional 154 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Ingersoll-Rand by 133.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,143 shares of the industrial products companys stock valued at $651,000 after buying an additional 2,936 shares during the period. Quadrant Capital Group LLC lifted its position in Ingersoll-Rand by 103.3% during the second quarter. Quadrant Capital Group LLC now owns 1,813 shares of the industrial products companys stock valued at $224,000 after buying an additional 921 shares during the period. Finally, Greenleaf Trust boosted its holdings in shares of Ingersoll-Rand by 5.0% during the 2nd quarter. Greenleaf Trust now owns 2,938 shares of the industrial products companys stock valued at $372,000 after buying an additional 140 shares in the last quarter. 78.92% of the stock is owned by institutional investors.

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.

Featured Story: Bollinger Bands

Get a free copy of the Zacks research report on Ingersoll-Rand (IR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.

Read more from the original source:
Ingersoll-Rand (NYSE:IR) Rating Lowered to Sell at Zacks Investment Research - TechNewsObserver