Ingersoll (IR) Poised For Top-Line Growth, Risks Remain
Zacks Investment Research | Nov 21, 2016 07:28AM ET
On Nov 21, 2016, Zacks Investment Research downgraded Ingersoll-Rand Plc (NYSE:IR) to a Zacks Rank #3 (Hold). Going by the Zacks model, companies holding a Zacks Rank #3 have high chances of performing in line with the broader market in the quarters ahead.
Headquartered in Dublin, Ireland, Ingersoll designs, manufactures, sells and services a diverse portfolio of industrial and commercial products across the globe. From enhancing the quality and comfort of air in homes and buildings to transporting and protecting food and perishables, the product portfolio of the company secures homes and commercial properties and increases industrial productivity and efficiency.
With strong third-quarter 2016 results, Ingersoll raised its full year 2016 guidance for adjusted earnings from continuing operations to $4.17–$4.22 per share from the earlier expectation of $4.00–$4.10. Adjusted free cash flow for the year is estimated to be approximately $1.3 billion, up from $1.0 billion to $1.1 billion projected earlier. Such bullish outlook portrays favorable growth dynamics and gives confidence to investors.
Ingersoll continues to focus on improving the efficiencies and capabilities of products and services within its core businesses. The company also has a solid foundation of global brands and leading market share in all major product lines. The geographic and industry diversity, coupled with a large installed product base provides ample growth opportunities within service, spare parts and replacement revenue streams. Additionally, the company’s complementary portfolio of products and services is likely to assist it in strengthening the market position and achieving high productivity.
INGERSOLL RAND Price and Consensus
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