Analysts Set Praxair Inc. (NYSE:PX) Price Target at $117.83
Praxair Inc. (NYSE:PX) has earned a consensus rating of “Hold” from the seventeen research firms that are presently covering the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $117.83.
Several research analysts have commented on PX shares. Jefferies Group reaffirmed a “buy” rating and issued a $135.00 price target on shares of Praxair in a research report on Wednesday, June 15th. Morgan Stanley reissued a “hold” rating and set a $100.00 price objective on shares of Praxair in a report on Thursday, June 16th. TheStreet raised Praxair from a “hold” rating to a “buy” rating in a report on Thursday, June 23rd. Citigroup Inc. lifted their price objective on Praxair from $120.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Finally, Barclays PLC lifted their price objective on Praxair from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, July 29th.
Praxair (NYSE:PX) opened at 118.85 on Thursday. The firm has a market capitalization of $33.90 billion, a price-to-earnings ratio of 21.64 and a beta of 0.93. Praxair has a one year low of $95.60 and a one year high of $125.00. The stock’s 50 day moving average price is $120.03 and its 200-day moving average price is $115.91.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 EPS. On average, equities research analysts anticipate that Praxair will post $5.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio is currently 54.55%.
Institutional investors have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd acquired a new position in Praxair during the second quarter worth approximately $101,000. Carnick & Kubik LLC acquired a new position in Praxair during the first quarter worth approximately $109,000. SevenBridge Financial Group LLC acquired a new position in Praxair during the second quarter worth approximately $118,000. Quadrant Capital Group LLC raised its position in Praxair by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,168 shares of the company’s stock worth $126,000 after buying an additional 11 shares in the last quarter. Finally, High Point Bank & Trust Co. raised its position in Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock worth $140,000 after buying an additional 250 shares in the last quarter. 83.78% of the stock is currently owned by institutional investors.
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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