Ingersoll Rand Inc. (NYSE: IR) stock jumped 1.18% on Thursday to $57.58 against a previous-day closing price of $56.91. With 1.97 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.5 million shares. The 52-week range on IR shows that it touched its highest point at $61.06 and its lowest point at $39.28 during that stretch. It currently has a 1-year price target of $65.27. With its current market cap of 23.36 billion, IR has annualized dividend of $0.08 while the current yield stands at 0.14%. Beta for the stock currently stands at 1.41.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IR was down-trending over the past week, with a drop of -3.92%, but this was up by 7.81% over a month. Three-month performance dropped to -0.17% while six-month performance rose 7.05%. The stock gained 27.84% in the past year, while it has gained 10.20% so far this year. A look at the trailing 12-month EPS for IR yields 1.58 with Next year EPS estimates of 2.96. For the next quarter, that number is 0.60. This implies an EPS growth rate of 16.20% for this year and 9.15% for next year. EPS is expected to grow by 10.63% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 57.80%.
Float and Shares Shorts:
At present, 405.00 million IR shares are outstanding with a float of 404.13 million shares on hand for trading. On Apr 27, 2023, short shares totaled 5.72 million, which was 1.41% higher than short shares on Mar 30, 2023. In addition to Mr. Vicente Reynal as the firm’s Chairman, CEO & Pres, Mr. Vikram U. Kini serves as its Sr. VP & CFO.
Institutional Ownership:
Through their ownership of 99.11% of IR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.13% of IR, in contrast to 34.98% held by mutual funds. Shares owned by individuals account for 11.35%. As the largest shareholder in IR with 11.46% of the stake, T. Rowe Price Investment Manageme holds 46,385,990 shares worth 46,385,990. A second-largest stockholder of IR, The Vanguard Group, Inc., holds 44,190,174 shares, controlling over 10.91% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in IR, holding 27,983,731 shares or 6.91% stake. With a 3.11% stake in IR, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 12,572,945 shares are owned by the mutual fund manager. The T Rowe Price Mid Cap Growth Fund, which owns about 2.96% of IR stock, is the second-largest Mutual Fund holder. It holds 11,982,400 shares valued at 683.24 million. T Rowe Price New Horizons Fund holds 2.71% of the stake in IR, owning 10,989,152 shares worth 626.6 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, IR reported revenue of $1.44B and operating income of $197.40M. The EBITDA in the recently reported quarter was $309.30M and diluted EPS was $0.34.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IR analysts setting a high price target of $83.00 and a low target of $60.00, the average target price over the next 12 months is $67.00. Based on these targets, IR could surge 44.15% to reach the target high and rise by 4.2% to reach the target low. Reaching the average price target will result in a growth of 16.36% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded IR stock several times over the past three months with 8 Buys and 9 Sells. In these transactions, 24,384 shares were bought while 35,701 shares were sold. The number of buy transactions has increased to 61 while that of sell transactions has risen to 55 over the past year. The total number of shares bought during that period was 495,743 while 397,927 shares were sold.
