Jefferies Group Reiterates Buy Rating for Praxair Inc. (PX)
Praxair Inc. (NYSE:PX)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a research note issued to investors on Friday. They presently have a $140.00 target price on the stock. Jefferies Group’s target price points to a potential upside of 17.79% from the stock’s previous close.
A number of other research firms have also recently commented on PX. Morgan Stanley assumed coverage on Praxair in a research note on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price target on the stock. TheStreet upgraded Praxair from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Argus restated a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Credit Agricole SA upped their price target on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $118.57.
Praxair (NYSE:PX) opened at 118.86 on Friday. Praxair has a one year low of $95.60 and a one year high of $125.00. The company has a market capitalization of $33.90 billion, a P/E ratio of 21.64 and a beta of 0.90. The stock’s 50 day moving average price is $119.82 and its 200-day moving average price is $115.52.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the firm posted $1.45 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts forecast that Praxair will post $5.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s payout ratio is 54.55%.
Institutional investors have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd purchased a new position in shares of Praxair during the second quarter valued at about $101,000. Carnick & Kubik LLC purchased a new position in shares of Praxair during the first quarter valued at about $109,000. SevenBridge Financial Group LLC purchased a new position in shares of Praxair during the second quarter valued at about $118,000. Quadrant Capital Group LLC raised its position in shares of Praxair by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,168 shares of the company’s stock valued at $126,000 after buying an additional 11 shares during the last quarter. Finally, High Point Bank & Trust Co. raised its position in shares of Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock valued at $140,000 after buying an additional 250 shares during the last quarter. 83.78% of the stock is currently owned by institutional investors.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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