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Analyst Rating Flashback: Ingersoll-Rand Down 1.5% Since Downgraded 7 Days Ago (IR)

Published on Wed, 04/03/2013 - 09:10
By Robert Cotter

Ingersoll-Rand was downgraded from Overweight to Neutral by JP Morgan one week ago. Ingersoll-Rand shares are selling at $54.25, 1.5% below the $55.08 price point of one week ago.

Ingersoll-Rand (NYSE:IR) has potential upside of 5.0% based on a current price of $54.60 and analysts' consensus price target of $57.35. The stock should find initial support at its 50-day moving average (MA) of $53.22 and further support at its 200-day MA of $47.23.

Ingersoll-Rand Company Ltd. is a diversified, global company that provides a diverse range of products and services for a wide range of industries. The Company's operations include consist of air conditioning systems and services, climate control technologies, industrial technologies and security technologies.

In the past 52 weeks, shares of Ingersoll-Rand have traded between a low of $38.23 and a high of $56.77 and are now at $54.60, which is 43% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

By Robert Cotter
rcotter@fnno.com