UBS Maintains a 'Buy' on Ingersoll-Rand (IR); Looking Forward to Key Summer Selling Season
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Price: $83.34 -1.12%
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Ingersoll-Rand (NYSE: IR) price target raised from $42 to $45.
Analyst, Jason Feldman, said, "Results were generally better than expected outside of Residential. Sales of $3.15B were above consensus $3.04B with U.S. sales (ex-Hussmann) up 4% and International +1% (+4% ex-FX). Adj. operating margin of 6.7% declined 90bp YoY on a 3% (ex-Hussmann) increase in sales (+4% organic). Bookings were solid at +7% despite tough comps of +9% in 1Q11, with Residential and Climate +10% and +7%, respectively. Despite trends that improved over the course of the quarter, management remains cautious given underlying end market volatility."
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 $40.24 yesterday.
Analyst, Jason Feldman, said, "Results were generally better than expected outside of Residential. Sales of $3.15B were above consensus $3.04B with U.S. sales (ex-Hussmann) up 4% and International +1% (+4% ex-FX). Adj. operating margin of 6.7% declined 90bp YoY on a 3% (ex-Hussmann) increase in sales (+4% organic). Bookings were solid at +7% despite tough comps of +9% in 1Q11, with Residential and Climate +10% and +7%, respectively. Despite trends that improved over the course of the quarter, management remains cautious given underlying end market volatility."
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 $40.24 yesterday.
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