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Ingersoll Rand Inc. , headquartered in Davidson, North Carolina, is a global leader in industrial solutions, specializing in designing, producing, and distributing mission-critical flow creation and compression equipment with a market cap of $36.72 billion.
Companies valued at $10 billion or more are generally classified as "large-cap stocks," and Ingersoll Rand rightly fits into this category. The company’s diverse portfolio and focus on innovation enable it to serve a wide range of industries, delivering essential products that enhance operational efficiency and productivity globally.
IR shares are trading 10.1% below their 52-week high of $101.30, which they hit on Jul. 23. Also, the stock has declined 3.6% over the past three months, significantly underperforming the Dow Jones Industrial Average Index’s ($DOWI) 7.1% returns over the same time frame.
In the longer term, IR is up 17.7% on a YTD basis, and the shares have gained 38.5% over the past 52 weeks. The Dow has gained 9.8% in 2024 and 19.7% over the past year.
To confirm its bearish trend, IR has been trading below its 50-day moving average since early August. However, it has been trading above the 200-day moving average since early September.
Shares of Ingersoll Rand plummeted 9.1% in the following trading session after its Q2 earnings release on Jul. 31. The company reported a profit of $185 million, or $0.83 per share, surpassing Wall Street expectations of $0.77 per share. Also, its revenue came in at $1.81 billion, exceeding the analysts’ expectation of $1.78 billion. The company expects full-year earnings in the range of $3.27 to $3.37 per share.
Highlighting the contrast in performance, rival Eaton Corporation plc has outperformed IR and the border index, with a 27%% YTD gain.
Despite IR's recent underperformance compared to the Dow, analysts are moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy" from 11 analysts in coverage. The mean price target is $100.58, which suggests a premium of 10.5% to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Investors with an interest in Manufacturing - General Industrial stocks have likely encountered both Gorman-Rupp and Ingersoll Rand . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Currently, Gorman-Rupp has a Zacks Rank of #2 (Buy), while Ingersoll Rand has a Zacks Rank of #3 (Hold). This means that GRC's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
GRC currently has a forward P/E ratio of 20.98, while IR has a forward P/E of 27.43. We also note that GRC has a PEG ratio of 1.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. IR currently has a PEG ratio of 2.49.
Another notable valuation metric for GRC is its P/B ratio of 2.84. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, IR has a P/B of 3.65.
Based on these metrics and many more, GRC holds a Value grade of B, while IR has a Value grade of D.
GRC stands above IR thanks to its solid earnings outlook, and based on these valuation figures, we also feel that GRC is the superior value option right now.
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