On Jan. 04, Scheske Michael J divested U.S. $211,951 in shares of Ingersoll Rand Inc.. The VP, Corporate Controller sold 4,574 shares at a price per share of $46.34. The transaction decreased this specific insider’s holdings to 2,193 shares worth around $0.1 million at present.
Citigroup took its Ingersoll Rand Inc. [IR] rating to the equivalent of a Buy from a Neutral, and the price target to $53 from $44, in a research note dated December 14, 2020. That figure represents around a 11.92% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Citigroup’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in mid December. Meanwhile, Jefferies had launched its coverage on IR with “Buy”, in a research note produced for clients September 24, 2020.
Is Ingersoll Rand Inc. [NYSE:IR] a Good Buy Right Now?
It should be noted that IR technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 80% Buy in the last week and compares with 100% Buy in the past month. Data from Ingersoll Rand Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.89 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.07 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.13 million shares.
IR Price Performance
On Wall Street, Ingersoll Rand Inc. [NYSE:IR] finished Wednesday’s session up 3.27% at $46.68. The stock went up to $47.65 at the same session while its lowest single day price was $45.795. In the last five days, it saw a rise of about 4.95%, Ingersoll Rand Inc. shares gained by almost 2.46% since the beginning of the year. However, the share price has dropped to as low as -0.30% below its one year high. On 01/06/21, the company shares recorded $47.65, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $43.84. The company’s shares have inclined by 29.63% in the past year. The 50-day SMA achieved is $43.10 while the 200-day SMA is $34.24. Volume gained to 1.97 million from 1.8 million in the previous session.
IR Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 45.77 level, and in case of violation of this particular level, it will cause more drop to 44.85 level. On the upper level, 48.56 is still the key resistance. The stock may increase to the subsequent resistance at 47.62. The Relative Strength Index (RSI) pinned on the 14-day chart is 61.87, implying a neutral technical stance while the MACD stands at 0.07, meaning price will decrease in the next trading period. Percent R indicator moved to 25.39%, implying bullish price movement. Stochastic %K at 46.21% suggest holding the stock.
What is the short interest in Ingersoll Rand Inc.?
Short interest in the Ingersoll Rand Inc. stock has surged, increasing by 1.87 million shares to total 6.84 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 8.71 million, data from Yahoo Finance shows. The decrease of -27.34% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.98% of the overall float for the stock.
Ingersoll Rand Inc.’s Biggest Shareholders: Who Owns Ingersoll Rand Inc. [IR]?
Filings by T. Rowe Price Associates, Inc. showed that the firm now holds a total of 74,242,797 shares or roughly 17.78% of the outstanding IR shares. This means their shares have increased by 4,421,719 from the 74,242,797 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $1,667,939,939. Details in the latest 13F filings reveal that Wellington Management Co. LLP disposed off their -5.16% stake valued at $1,344,193,783 while BlackRock Fund Advisors added theirs at $710,686,896. During the last quarter, Wellington Management Co. LLP liquidated -1,653,344 of its shares in Ingersoll Rand Inc. while BlackRock Fund Advisors bought 493,169 shares. The SSgA Funds Management, Inc.’s holdings currently number 13,862,700 shares at $647110836.0. According to the firm’s last 13F report, Massachusetts Financial Services shares in the company at filing stood at 10,456,385 shares, roughly $462,904,164.
IR Earnings Forecast For The Current Quarter
Ingersoll Rand Inc. [IR] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.45B and an earnings per share of $0.44 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.31B at an EPS of $0.3 for Mar 2021. The estimates represent upside of 8.30% and 25.52% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
IR Earnings Estimates For The Current Year
For the financial year, Ingersoll Rand Inc. [NYSE:IR] is expected to bring in revenue of $5.29B. The returns are nearly $2.84 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.4, lower than that of FY19 by -$0.19. Estimates put this year’s earnings growth at -11.90%, 26.40% for the next, and at an annual 6.69% over the next 5-year period. As for sales, forecasts are for an increase of 115.80% in the current fiscal year and a further 8.30% over the following year.
What are analyst thoughts on Ingersoll Rand Inc.?
Looking forward to the Ingersoll Rand Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Ingersoll Rand Inc. stock at $46.00 within the next 12 months, which represents almost -1.48 per cent growth from its previous closing price of $46.68. The highest analysts’ target for Ingersoll Rand Inc. stock projections is $53.00 and the lowest one is $37.00. Still, 16 analysts sharing their consensus rating for IR stock in 2021 agree that it is an Overweight.