Ingersoll Rand Inc. (NYSE:IR) price on Thursday, August 26, fall -1.08% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $51.53.
A look at the stock’s price movement, the level at last check in today’s session was $52.09, moving within a range at $51.66 and $52.40. The beta value (5-Year monthly) was 1.52 while the PE ratio in trailing twelve months stood at 53.81. Turning to its 52-week performance, $52.65 and $34.02 were the 52-week high and 52-week low respectively. Overall, IR moved 8.05% over the past month.
Ingersoll Rand Inc.’s market cap currently stands at around $21.74 billion, with investors looking forward to this quarter’s earnings report slated for Nov 01, 2021 – Nov 05, 2021. Analysts project the company’s earnings per share (EPS) to be $0.47, which has seen fiscal year 2021 EPS growth forecast to increase to $1.85 and about $2.14 for fiscal year 2022. Per the data, EPS growth is expected to be 19.40% for 2021 and 15.70% for the next financial year.
Analysts have a consensus estimate of $1.26 billion for the company’s revenue for the quarter, with a low and high estimate of $1.21 billion and $1.3 billion respectively. The average forecast suggests down to a -0.40% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $5.03 billion, representing a 2.50% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 8 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that IR is a 100% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 7 recommend IR as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 3.09, with IR’s current price about 2.02% and 5.08% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.56, while 7-day volatility ratio is 1.60% and 2.17% in the 30-day chart. Further, Ingersoll Rand Inc. (IR) has a beta value of 1.51, and an average true range (ATR) of 1.05. Analysts have given the company’s stock an average 52-week price target of $58.83, forecast between a low of $52.00 and high of $64.00. Looking at the price targets, the low is -0.91% off recent price level in today’s trading while to achieve the yearly target high, it has to move -24.2%. Nonetheless, investors will most likely welcome a -16.44% jump to $60.00 which is the analysts’ median price.
In the market, a comparison of Ingersoll Rand Inc. (IR) and its peers suggest the former has performed considerably weaker. Data shows IR’s intraday price has changed -1.08% today and 47.81% over the past year. Comparatively, Deere & Company (DE) has moved 1.48% so far today and only 83.06% in the past 12 months. If we look at the PE ratio, we find that Ingersoll Rand Inc.’s ratio stands at 53.81 compared to Deere & Company’s 25.94. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.38% and -0.21% respectively on the day as seen in early trades.
If we refocus on Ingersoll Rand Inc. (NYSE:IR), historical trading data shows that trading volumes averaged 1.89 million over the past 10 days and 2.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 419.90 million shares.
The 0.10% of Ingersoll Rand Inc.’s shares are in the hands of company insiders while institutional holders own 98.10% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.78 million on Jul 14, 2021, giving us a short ratio of 1.86. The data shows that as of Jul 14, 2021 short interest in Ingersoll Rand Inc. (IR) stood at 1.14% of shares outstanding, with shares short falling to 5.42 million registered in Jun 14, 2021. Current price change has pushed the stock 14.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IR stock continues to rise going into the next quarter.