Ingersoll-Rand Inc (NYSE:IR) shares, rose in value, with the stock price up by 2.72% to the previous day’s close as strong demand from buyers drove the stock to $94.81.
Actively observing the price movement in the last trading, the stock closed the session at $92.30. The value of beta (5-year monthly) was 1.44 whereas the PE ratio was 49.74 over 12-month period. Referring to stock’s 52-week performance, its high was $96.17, and the low was $53.24. On the whole, IR has fluctuated by 5.06% over the past month.
With the market capitalization of Ingersoll-Rand Inc currently standing at about $38.25 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 0.08, with its dividend yield at 0.08%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.69, which is expected to increase to $0.77 for fiscal year $3.21 and then to about $3.55 by fiscal year 2025. Data indicates that the EPS growth is expected to be 8.40% in 2025, while the next year’s EPS growth is forecast to be 10.60%.
Analysts have estimated the company’s revenue for the quarter at $1.7 billion, with a low estimate of $1.67 billion and a high estimate of $1.71 billion. According to the average forecast, sales growth in current quarter could jump up 4.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $7.3 billion, representing an increase of 6.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that IR’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 5.44, with the price of IR currently trading nearly 2.43% and 6.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.84, while the 7-day volatility ratio is showing 2.03% which for the 30-day chart, stands at 1.64%. Furthermore, Ingersoll-Rand Inc (IR)’s beta value is 1.42, and its average true range (ATR) is 1.63.
A comparison of Ingersoll-Rand Inc (IR) with its peers suggests the former has fared considerably weaker in the market. IR showed an intraday change of 2.72% in last session, and over the past year, it grew by 71.57%%.
Data on historical trading for Ingersoll-Rand Inc (NYSE:IR) indicates that the trading volumes over the past 10 days have averaged 2.37 million and over the past 3 months, they’ve averaged 2.59 million. According to company’s latest data on outstanding shares, there are 403.35 million shares outstanding.
Nearly 0.21% of Ingersoll-Rand Inc’s shares belong to company insiders and institutional investors own 96.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.02 million shares as on Mar 15, 2024, resulting in a short ratio of 1.87. According to the data, the short interest in Ingersoll-Rand Inc (IR) stood at 1.25% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.67 million. The stock has risen by 22.59% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IR stock heading into the next quarter.
