Wells Fargo Reaffirms Their Buy Rating on Ingersoll Rand (IR)

Wells Fargo analyst Joe O’Dea maintained a Buy rating on Ingersoll Rand (IR – Research Report) yesterday and set a price target of $98.00. The company’s shares closed last Friday at $92.65.

O’Dea covers the Industrials sector, focusing on stocks such as Eaton, Johnson Controls, and Lennox International. According to TipRanks, O’Dea has an average return of 8.1% and a 59.53% success rate on recommended stocks.

Currently, the analyst consensus on Ingersoll Rand is a Strong Buy with an average price target of $102.25, a 10.36% upside from current levels. In a report released on May 8, Stifel Nicolaus also maintained a Buy rating on the stock with a $100.00 price target.

IR market cap is currently $37.38B and has a P/E ratio of 46.14.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IR in relation to earlier this year. Most recently, in February 2024, Michael J Scheske, the VP & CAO of IR sold 11,401.00 shares for a total of $999,362.67.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ingersoll Rand (IR) Company Description:

Ingersoll Rand Inc. is a provider of mission-critical flow control and compression equipment and associated aftermarket parts,
consumables, and services. It manufactures compressor, pump, vacuum and blower products in its markets. Its segments are Industrials, Energy,
and Medical. In the Industrials segment, the company designs, manufactures, markets and services a broad range of air compression, vacuum and blower products
across a wide array of technologies and applications. In the Medical segment, it designs, manufactures and markets specialized gas, liquid and precision syringe pumps,
and compressors for use in the medical, laboratory and biotechnology end markets.