Jefferies Raises Target On Ingersoll-Rand (IR) After Q4 "Beat"
IR Hot Sheet
Rating Summary:8 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Jefferies boosted estimates and its price target on Ingersoll-Rand (NYSE: IR) from $38 to $44 following better-than-expected Q4 results.
The firm comments, "IR reported better-than-expected earnings of $0.76, the result of a $0.13 benefit from a lower tax rate. While revenues were a bit light, improved productivity and favorable price/cost kept operating results in line. The mid-point of 2012 guidance was a bit below consensus but included some new restructuring costs. More important, IR's sales and margin targets look quite conservative, setting a low bar to start the year."
FY12 EPS remains at $3.15 while FY13 goes up from $3.60 to $3.70.
For an analyst ratings summary and ratings history on Ingersoll-Rand click here. For more ratings news on Ingersoll-Rand click here.
Shares of Ingersoll-Rand closed at $37.99 yesterday, with a 52 week range of $25.86-$52.33.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
The firm comments, "IR reported better-than-expected earnings of $0.76, the result of a $0.13 benefit from a lower tax rate. While revenues were a bit light, improved productivity and favorable price/cost kept operating results in line. The mid-point of 2012 guidance was a bit below consensus but included some new restructuring costs. More important, IR's sales and margin targets look quite conservative, setting a low bar to start the year."
FY12 EPS remains at $3.15 while FY13 goes up from $3.60 to $3.70.
For an analyst ratings summary and ratings history on Ingersoll-Rand click here. For more ratings news on Ingersoll-Rand click here.
Shares of Ingersoll-Rand closed at $37.99 yesterday, with a 52 week range of $25.86-$52.33.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
You May Also Be Interested In
- Auriga Reiterates a 'Buy' on DSW Inc. (DSW); Raising Estimates and PT After Great Q1
- UBS Cuts Price Target and Estimates on Analog Devices (ADI); Good Q2, But Slowing Growth in N-T
- UBS Raises Price Target and Estimates on Williams-Sonoma (WSM); Positive Momentum Is Beginning To Pick Up
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & Co, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
