In the latest trading session, 0.78 million Ingersoll Rand Inc. (NYSE:IR) shares changed hands as the company’s beta touched 1.44. With the company’s most recent per share price at $66.53 changing hands around $0.14 or 0.21% at last look, the market valuation stands at $27.17B. IR’s current price is a discount, trading about -6.19% off its 52-week high of $70.65. The share price had its 52-week low at $42.20, which suggests the last value was 36.57% up since then. When we look at Ingersoll Rand Inc.’s average trading volume, we note the 10-day average is 2.95 million shares, with the 3-month average coming to 2.38 million.
Analysts gave the Ingersoll Rand Inc. (IR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 17 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 6 recommended IR as a Hold, 9 felt it is a Buy and 0 rated the stock as Underweight. Ingersoll Rand Inc.’s EPS for the current quarter is expected to be $0.69.
Ingersoll Rand Inc. (NYSE:IR) trade information
Instantly IR is in green as seen in intraday trades today. With action -2.63%, the performance over the past five days has been red. The jump to weekly highs of 68.48 on Monday, 09/18/23 added 0.21% to the stock’s daily price. The company’s shares are showing year-to-date upside of 27.33%, with the 5-day performance at -2.63% in the red. However, in the 30-day time frame, Ingersoll Rand Inc. (NYSE:IR) is 0.06% up. Looking at the short shares, we see there were 4.78 million shares sold at short interest cover period of 2 days.
The consensus price target for the stock as assigned by Wall Street analysts is $75.69, meaning bulls need an upside of 12.1% from its recent market value. According to analyst projections, IR’s forecast low is $64.00 with $85.00 as the target high. To hit the forecast high, the stock’s price needs a -27.76% plunge from its current level, while the stock would need to tank 3.8% for it to hit the projected low.
Ingersoll Rand Inc. (IR) estimates and forecasts
Data shows that the Ingersoll Rand Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 23.41% over the past 6 months, a 17.80% in annual growth rate that is considerably higher than the industry average of 10.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ingersoll Rand Inc. will rise 11.30%, while the growth in revenue is estimated to hit 5.60% for the next quarter. Year-over-year growth is forecast to reach 14.20% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $1.69 billion. 10 analysts are of the opinion that Ingersoll Rand Inc.’s revenue for the quarter ending Dec 2023 will be $1.76 billion. The company’s revenue for the corresponding quarters a year ago was $1.45 billion and $1.62 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 16.40%. The estimates for the next quarter sales put growth at 8.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 57.80%. The 2023 estimates are for Ingersoll Rand Inc. earnings to increase by 16.20%, but the outlook for the next 5-year period is at 12.38% per year.
Ingersoll Rand Inc. is expected to release its next quarterly earnings report between October 31 and November 06. The 0.12% annual yield figure for the share gives it an annual dividend of 0.08. It is important to note, however, that the 0.12% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Ingersoll Rand Inc. (NYSE:IR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.21% of Ingersoll Rand Inc. shares while 98.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 98.74%. There are 98.54% institutions holding the Ingersoll Rand Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.26% of the shares, roughly 45.52 million IR shares worth $2.98 billion.
T. Rowe Price Investment Management, Inc. holds the second largest percentage of outstanding shares, with 10.11% or 40.87 million shares worth $2.67 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Price (T.Rowe) Capital Appreciation Fund. With 12.63 million shares estimated at $825.79 million under it, the former controlled 3.12% of total outstanding shares. On the other hand, Price (T.Rowe) Capital Appreciation Fund held about 2.70% of the shares, roughly 10.91 million shares worth around $712.85 million.