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Ingersoll Rand Inc. (IR), based in Davidson, North Carolina, offers a wide range of mission-critical technologies and solutions for air, gas, liquid, and solid flow creation globally. With a market cap of $39.4 billion, the company operates through two segments: Industrial Technologies and Services (IT&S) and Precision and Science Technologies (P&ST).
Shares of Ingersoll Rand have outperformed the broader market over the past year. Over the past 52 weeks, IR stock has soared 49.5% compared to the S&P 500 Index’s ($SPX) 32.7% returns. In 2024, IR is up 26.3%, outpacing the SPX’s 21.2% gains on a YTD basis.
Zooming in further, IR has also outperformed the Industrial Select Sector SPDR Fund’s (XLI) 34% gains over the past 52 weeks and 19.4% returns on a YTD basis.
On Nov. 1, IR announced its Q3 earnings, and its shares dropped 2.1%. It reported adjusted net income of 84 cents per share, surpassing analysts' expectations of 82 cents. However, revenue totaled $1.86 billion, missing the forecasted $1.88 billion.
For the current fiscal year, ending in December, analysts expect Ingersoll Rand to report an EPS growth of 12.6% year over year to $3.21. The company has a history of exceeding the EPS estimates in each of its four quarterly reports.
Among the 12 analysts covering the IR stock, the consensus rating is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings and five “Holds.”
This configuration has been consistent over the past months.
On Nov. 4, Robert W. Baird reduced Ingersoll Rand's price target from $114 to $109 in a research report, while maintaining an “Outperform” rating on the industrial products company's stock.
IR’s mean price target of $104.67 represents a premium of 7.1% to current price levels. The street-high target of $120 indicates a potential upside of 22.8% from current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
