Ingersoll Rand Inc. (NYSE: IR) stock jumped 1.26% on Thursday to $66.56 against a previous-day closing price of $65.73. With 2.41 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.4 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $66.99 whereas the lowest price it dropped to was $65.73. The 52-week range on IR shows that it touched its highest point at $70.65 and its lowest point at $42.20 during that stretch. It currently has a 1-year price target of $74.98. With its current market cap of 26.97 billion, IR has annualized dividend of $0.08 while the current yield stands at 0.12%. Beta for the stock currently stands at 1.44.
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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 -4.30%, but this was down by -0.66% over a month. Three-month performance surged to 3.81% while six-month performance rose 25.75%. The stock gained 34.30% in the past year, while it has gained 27.39% so far this year. A look at the trailing 12-month EPS for IR yields 1.68 with Next year EPS estimates of 3.06. For the next quarter, that number is 0.69. This implies an EPS growth rate of 16.20% for this year and 10.39% for next year. EPS is expected to grow by 12.38% 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, 404.50 million IR shares are outstanding with a float of 403.57 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.78 million, which was 1.18% higher than short shares on Jul 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 98.54% of IR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.97% of IR, in contrast to 35.98% held by mutual funds. Shares owned by individuals account for 11.38%. As the largest shareholder in IR with 10.84% of the stake, The Vanguard Group, Inc. holds 43,853,297 shares worth 43,853,297. A second-largest stockholder of IR, T. Rowe Price Investment Manageme, holds 40,867,932 shares, controlling over 10.10% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in IR, holding 26,642,072 shares or 6.59% stake. With a 3.12% stake in IR, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 12,619,261 shares are owned by the mutual fund manager. The T Rowe Price Capital Appreciation, which owns about 2.70% of IR stock, is the second-largest Mutual Fund holder. It holds 10,906,532 shares valued at 711.87 million. T Rowe Price New Horizons Fund holds 2.55% of the stake in IR, owning 10,322,424 shares worth 673.74 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 Jun 29, 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 $85.00 and a low target of $64.00, the average target price over the next 12 months is $75.69. Based on these targets, IR could surge 27.7% to reach the target high and fall by -3.85% to reach the target low. Reaching the average price target will result in a growth of 13.72% 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 3 Buys and 2 Sells. In these transactions, 4,947 shares were bought while 27,767 shares were sold. The number of buy transactions has increased to 62 while that of sell transactions has risen to 55 over the past year. The total number of shares bought during that period was 572,317 while 468,593 shares were sold.
