Ingersoll Rand Inc. (IR) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Ingersoll Rand Inc. (IR), based in Davidson, North Carolina, has established itself as a leader in the specialty industrial machinery sector since its founding in 1859. The company delivers essential solutions for air, gas, liquid, and solid flow creation worldwide. Operating through two key divisions — Industrial Technologies and Services, and Precision and Science Technologies — Ingersoll Rand focuses on advanced pump systems and gas fluid solutions utilized across various industries, including medical, agriculture, and chemical processing. The company rebranded from Gardner Denver Holdings, Inc. in March 2020, signaling its commitment to innovation and growth within the industrial landscape.
Market Outlook and Performance
The Specialty Industrial Machinery industry is experiencing robust growth, with a total revenue of approximately $7.04 billion. Ingersoll Rand Inc. exemplifies this upward trend, demonstrated through its attractive market position and significant share volume. With 403,484,000 outstanding shares and a relatively low short interest of 2.5%, market sentiment remains positive, suggesting investor confidence. The current stock price sits at $96.77, positioning it closer to analysts’ target high price of $115.00, which reflects strong potential upside. Meanwhile, the average target mean price is projected at $101.80, aligning with an optimistic consensus among analysts.
Analyst Recommendations
A panel of 13 analysts provides a favorable outlook, with recommendations resulting in a mean score of 2.2, indicating a strong “buy” signal. The stock has demonstrated an impressive performance with a fifty-two week high of $101.30 and a low of $59.20, illustrating its volatility and potential for both reward and risk. With the stock currently trading above its fifty-day moving average of $92.57, investors may find opportunities for profitable trades given the strong financial position and positive market sentiment surrounding Ingersoll Rand Inc.
| Metric | Value |
|---|---|
| Market Cap | $39.0b |
| Total Debt | $4.8b |
| Total Cash | $1.1b |
| Shares Outstanding | 403.5m |
| Float Shares | 402.2m |
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