Is This High-Flying Stock Still a Good Value?

The heating, ventilation and air conditioning (HVAC) industry has been one of the bright spots of the industrial sector in 2019, and Ingersoll-Rand (NYSE: IR) has been one of the standout performers, with its stock up 37% year to date. The recent results saw the company raise guidance for the second time this year. That said, is it enough to justify taking the stock higher?

There's little doubt that Ingersoll-Rand is one of the highest quality names in the sector. Its climate segment just reported another strong quarter while rivals Lennox International (NYSE: LII) and United Technologies's (NYSE: UTX) Carrier disappointed investors.

Lennox blamed cooler weather in the quarter for constraining sales in the residential market in the first half, and then promptly lowered its full-year outlook for the commercial HVAC end market in North America to flat, from low-single-digit growth. Consequently, Lennox cut its revenue and earnings forecast for 2019.

Quelle Fool.com