Zacks Research Predicts Lower Earnings for Ingersoll Rand

Ingersoll Rand Inc. (NYSE:IR) – Equities researchers at Zacks Research cut their FY2024 earnings estimates for shares of Ingersoll Rand in a research note issued to investors on Monday, February 10th. Zacks Research analyst A. Bhattacharjee now anticipates that the industrial products company will post earnings per share of $3.17 for the year, down from their prior 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 research analysts have also issued reports on IR. Barclays cut their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Citigroup reduced their target price on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. The Goldman Sachs Group raised their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company decreased their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.92.

Ingersoll Rand Trading Down 0.0 %

Ingersoll Rand stock opened at $92.14 on Wednesday. Ingersoll Rand has a one year low of $83.72 and a one year high of $106.03. The stock has a market cap of $37.13 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 3.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a 50-day moving average of $93.78 and a two-hundred day moving average of $95.36.

Hedge Funds Weigh In On Ingersoll Rand

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Ingersoll Rand by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,684,016 shares of the industrial products company’s stock valued at $4,132,576,000 after purchasing an additional 446,591 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. FMR LLC grew 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 acquiring an additional 1,538,056 shares during the period. State Street Corp increased its holdings in Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock worth $1,548,661,000 after acquiring an additional 112,824 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock worth $1,207,554,000 after acquiring an additional 278,710 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

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.