Air Products & Chemicals (NYSE:APD) had its price objective boosted by Barclays from $220.00 to $260.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price target would indicate a potential upside of 12.77% from the stock’s previous close.
Several other equities research analysts have also issued reports on APD. Deutsche Bank reissued a “buy” rating on shares of Qiagen in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a “neutral” rating in a research report on Friday, June 7th. KeyCorp lowered shares of Steris from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, July 9th. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on shares of Air Products & Chemicals to $235.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Finally, Vertical Research lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $233.77.
NYSE:APD traded up $2.90 during trading hours on Friday, reaching $230.55. 2,146,161 shares of the company were exchanged, compared to its average volume of 1,154,931. The company has a current ratio of 2.36, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock has a market cap of $49.50 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 2.23 and a beta of 0.83. Air Products & Chemicals has a 52-week low of $148.44 and a 52-week high of $231.45. The company’s 50 day moving average is $224.80.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.03. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.32 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. Air Products & Chemicals’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.95 earnings per share. On average, analysts forecast that Air Products & Chemicals will post 8.22 EPS for the current fiscal year.
In related news, VP Russell A. Flugel sold 2,970 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the sale, the vice president now directly owns 6,387 shares of the company’s stock, valued at approximately $1,322,172.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Seifi Ghasemi purchased 20,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the acquisition, the chief executive officer now owns 453,783 shares in the company, valued at approximately $103,081,346.28. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in APD. OMERS ADMINISTRATION Corp acquired a new position in Air Products & Chemicals during the 4th quarter worth $164,779,000. Deutsche Bank AG grew its holdings in Air Products & Chemicals by 96.6% during the 4th quarter. Deutsche Bank AG now owns 1,599,411 shares of the basic materials company’s stock worth $255,979,000 after acquiring an additional 785,837 shares in the last quarter. Norges Bank acquired a new position in Air Products & Chemicals during the 4th quarter worth $95,285,000. Nordea Investment Management AB grew its holdings in Air Products & Chemicals by 358.5% during the 1st quarter. Nordea Investment Management AB now owns 405,635 shares of the basic materials company’s stock worth $77,462,000 after acquiring an additional 317,174 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Air Products & Chemicals by 25.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,044,236 shares of the basic materials company’s stock worth $167,161,000 after acquiring an additional 212,479 shares in the last quarter. 87.10% of the stock is owned by institutional investors and hedge funds.
About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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