Air Products and Chemicals (NYSE:APD) PT Raised to $263.00

Air Products and Chemicals (NYSE:APD) had its price target upped by analysts at BMO Capital Markets from $250.00 to $263.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 10.64% from the company’s current price.

Several other analysts have also commented on the company. Mizuho dropped their price objective on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday. Seaport Res Ptn downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Barclays reduced their target price on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Finally, Bank of America boosted their target price on Air Products and Chemicals from $272.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and a consensus price target of $276.36.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded up $1.36 during midday trading on Wednesday, reaching $237.70. 766,551 shares of the stock were exchanged, compared to its average volume of 1,726,719. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The firm has a market cap of $52.84 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.62 and a beta of 0.81. The firm has a 50-day simple moving average of $237.53 and a two-hundred day simple moving average of $254.67. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business earned $2.74 earnings per share. As a group, analysts anticipate that Air Products and Chemicals will post 12.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Air Products and Chemicals

Institutional investors have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $27,000. Roble Belko & Company Inc purchased a new position in Air Products and Chemicals during the 4th quarter worth $27,000. Sachetta LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter worth $27,000. Security National Bank purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $27,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Air Products and Chemicals during the first quarter worth about $27,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.