Air Products and Chemicals (NYSE:APD) Coverage Initiated at Wolfe Research

Research analysts at Wolfe Research started coverage on shares of Air Products and Chemicals (NYSE:APD) in a research report issued to clients and investors on Wednesday, PriceTargets.com reports. The firm set an “outperform” rating on the basic materials company’s stock.

Several other equities research analysts also recently issued reports on the company. Credit Suisse Group restated an “outperform” rating and set a $302.00 price objective on shares of Air Products and Chemicals in a report on Monday, March 22nd. HSBC lowered their price target on Air Products and Chemicals from $275.00 to $269.00 and set a “hold” rating for the company in a report on Thursday, June 3rd. Zacks Investment Research downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating and set a $297.00 price target for the company. in a report on Wednesday, March 31st. Barclays reiterated an “equal weight” rating and issued a $310.00 price target (up from $295.00) on shares of Air Products and Chemicals in a report on Thursday, May 13th. Finally, Cowen boosted their price target on Air Products and Chemicals from $340.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, May 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Air Products and Chemicals presently has an average rating of “Buy” and an average price target of $311.07.

APD stock opened at $298.60 on Wednesday. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.54. Air Products and Chemicals has a 52-week low of $229.17 and a 52-week high of $327.89. The business’s 50 day simple moving average is $293.42. The stock has a market cap of $66.08 billion, a P/E ratio of 35.13, a PEG ratio of 2.93 and a beta of 0.76.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Sunday, May 9th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.12 by ($0.04). Air Products and Chemicals had a return on equity of 14.75% and a net margin of 20.39%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Air Products and Chemicals’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Air Products and Chemicals will post 9.1 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Air Products and Chemicals by 4.4% during the 4th quarter. BlackRock Inc. now owns 16,162,103 shares of the basic materials company’s stock valued at $4,415,809,000 after purchasing an additional 686,175 shares during the period. Capital International Investors boosted its position in Air Products and Chemicals by 14.0% during the 1st quarter. Capital International Investors now owns 7,140,275 shares of the basic materials company’s stock worth $2,008,912,000 after acquiring an additional 878,022 shares during the period. Wells Fargo & Company MN boosted its position in Air Products and Chemicals by 5.1% during the 4th quarter. Wells Fargo & Company MN now owns 4,509,811 shares of the basic materials company’s stock worth $1,232,171,000 after acquiring an additional 220,007 shares during the period. Geode Capital Management LLC boosted its position in Air Products and Chemicals by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 3,457,570 shares of the basic materials company’s stock worth $970,200,000 after acquiring an additional 69,469 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Air Products and Chemicals by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,057,880 shares of the basic materials company’s stock worth $860,302,000 after acquiring an additional 156,946 shares during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

About Air Products and 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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Analyst Recommendations for Air Products and Chemicals (NYSE:APD)

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