Wells Fargo & Company Forecasts Strong Price Appreciation for Air Products and Chemicals (NYSE:APD) Stock

Air Products and Chemicals (NYSE:APD) had its price target boosted by Wells Fargo & Company from $350.00 to $365.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a report on Friday. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research note on Friday, October 25th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. Finally, Citigroup increased their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $339.94.

Air Products and Chemicals Stock Down 5.3 %

APD stock opened at $310.66 on Friday. The company’s 50 day moving average price is $310.30 and its 200 day moving average price is $300.85. The firm has a market capitalization of $69.09 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 3.55 and a beta of 0.85. Air Products and Chemicals has a fifty-two week low of $213.80 and a fifty-two week high of $341.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.64% and a return on equity of 16.34%. On average, equities research analysts anticipate that Air Products and Chemicals will post 12.76 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Institutional Investors Weigh In On Air Products and Chemicals

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $885,371,000. Pathway Financial Advisers LLC lifted its position in shares of Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after acquiring an additional 2,884,581 shares during the period. ING Groep NV lifted its position in shares of Air Products and Chemicals by 240.7% during the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after acquiring an additional 723,019 shares during the period. Mizuho Markets Americas LLC boosted its stake in shares of Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after acquiring an additional 722,132 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Air Products and Chemicals by 1,685.4% in the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after purchasing an additional 721,671 shares in the last quarter. 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.