Bank of America Boosts Air Products and Chemicals (NYSE:APD) Price Target to $275.00

Air Products and Chemicals (NYSE:APD) had its price target lifted by Bank of America from $272.00 to $275.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other analysts have also issued reports on APD. Barclays cut their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating for the company in a research report on Tuesday, February 6th. Morgan Stanley lowered their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating for the company in a research note on Wednesday, February 7th. Mizuho lowered their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating for the company in a research note on Wednesday. Citigroup lowered their price objective on shares of Air Products and Chemicals from $285.00 to $280.00 and set a buy rating for the company in a research note on Wednesday. Finally, Seaport Res Ptn downgraded shares of Air Products and Chemicals from a buy rating to a neutral rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $277.43.

Air Products and Chemicals Stock Up 0.5 %

Shares of NYSE:APD opened at $237.50 on Wednesday. The firm has a fifty day moving average of $237.72 and a 200 day moving average of $254.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $307.71. The firm has a market capitalization of $52.80 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81.

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

Several large investors have recently made changes to their positions in APD. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Roble Belko & Company Inc purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Sachetta LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Security National Bank purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Finally, Thompson Investment Management Inc. purchased a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $27,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

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.