RBC Capital Starts Stock Coverage on Ingersoll-Rand (IR)

By admin | 6 years ago

Equities researchers at RBC Capital (NYSE: RY) assumed coverage on shares of Ingersoll-Rand (NYSE: IR) in a report issued on Thursday. The firm set a “sector perform” rating on the stock.

Ingersoll-Rand traded down 0.42% on Thursday, hitting $42.47. Ingersoll-Rand has a 52-week low of $25.86 and a 52-week high of $50.05. The company has a market cap of $12.687 billion and a price-to-earnings ratio of 27.61.

Ingersoll-Rand last announced its earnings results on Friday, April 20th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Ingersoll-Rand will post $0.96 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America (NYSE: BAC) raised their price target on shares of Ingersoll-Rand from $46.00 to $50.00 in a research note to investors on Thursday, May 10th. Separately, analysts at UBS AG (NYSE: UBS) reiterated a “buy” rating on shares of Ingersoll-Rand in a research note to investors on Tuesday, April 24th. Finally, analysts at Nomura (NYSE: NMR) reiterated a “neutral” rating on shares of Ingersoll-Rand in a research note to investors on Monday, April 23rd.

Ingersoll-Rand plc (IR-Ireland) is a diversified company that provides products, services and solutions to enhance the comfort of air in homes and buildings, transport and protect food and perishables, and secure homes and commercial properties.

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