Nomura Securities Maintains a 'Neutral' on Ingersoll-Rand (IR); Q1 Review
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Price: $92.03 --0%
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 15 | Down: 17 | New: 4
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 15 | Down: 17 | New: 4
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Nomura Securities maintains a 'Neutral' on Ingersoll-Rand (NYSE: IR) price target of $42.00.
Analyst, Shannon O'Callaghan, said, "1Q mixed, but HVAC orders better; Industrial & Security seeing Europe pressure. IR reported 1Q12 EPS of $0.31 vs. our estimate of $0.26, consensus of $0.25, and guidance of $0.20-$0.26. Commercial HVAC equipment orders were up 5% and resi HVAC orders were up high single digits in 1Q, positive signs. March residential HVAC orders were up 40%, which we think was partly a function of an easy comparison with March 2011, when orders were well below a normal level owing to the weak orders last March following the tax credit expiration. Offsetting the better commercial and resi HVAC orders is pressure in Industrial and Security, which combined represent almost half of segment profit and are both seeing pressure from Europe heading into 2Q."
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 $40.61 yesterday.
Analyst, Shannon O'Callaghan, said, "1Q mixed, but HVAC orders better; Industrial & Security seeing Europe pressure. IR reported 1Q12 EPS of $0.31 vs. our estimate of $0.26, consensus of $0.25, and guidance of $0.20-$0.26. Commercial HVAC equipment orders were up 5% and resi HVAC orders were up high single digits in 1Q, positive signs. March residential HVAC orders were up 40%, which we think was partly a function of an easy comparison with March 2011, when orders were well below a normal level owing to the weak orders last March following the tax credit expiration. Offsetting the better commercial and resi HVAC orders is pressure in Industrial and Security, which combined represent almost half of segment profit and are both seeing pressure from Europe heading into 2Q."
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 $40.61 yesterday.
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