Air Products and Chemicals Inc. (APD) Rating Increased to Buy at Argus
Air Products and Chemicals Inc. (NYSE:APD) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $159.00 price target on the stock. Argus’ target price would indicate a potential upside of 13.78% from the stock’s current price.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Credit Suisse Group AG began coverage on Air Products and Chemicals in a research note on Monday, October 3rd. They issued an “outperform” rating on the stock. Atlantic Securities upgraded Air Products and Chemicals from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $125.00 to $135.00 in a research note on Friday, September 30th. JPMorgan Chase & Co. upgraded Air Products and Chemicals from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $160.00 in a research note on Friday, August 12th. Finally, Jefferies Group reiterated a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $151.07.
Shares of Air Products and Chemicals (NYSE:APD) traded down 0.19% during trading on Monday, hitting $139.48. The stock had a trading volume of 328,834 shares. The stock has a 50 day moving average price of $135.45 and a 200-day moving average price of $136.05. The stock has a market capitalization of $30.29 billion, a price-to-earnings ratio of 48.26 and a beta of 1.24. Air Products and Chemicals has a one year low of $106.05 and a one year high of $146.01.
Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, October 27th. The company reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.03. Air Products and Chemicals had a return on equity of 22.74% and a net margin of 6.63%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the company posted $1.82 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict that Air Products and Chemicals will post $6.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Tuesday, January 3rd will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.46%. Air Products and Chemicals’s dividend payout ratio is 119.03%.
In other news, SVP John D. Stanley sold 17,247 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $155.39, for a total value of $2,680,011.33. Following the transaction, the senior vice president now directly owns 36,129 shares of the company’s stock, valued at approximately $5,614,085.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Liberty Capital Management Inc. purchased a new position in Air Products and Chemicals during the third quarter worth $100,000. Parkside Financial Bank & Trust increased its position in Air Products and Chemicals by 8.9% in the second quarter. Parkside Financial Bank & Trust now owns 793 shares of the company’s stock worth $113,000 after buying an additional 65 shares during the period. Cantab Capital Partners LLP purchased a new position in Air Products and Chemicals during the second quarter worth $113,000. Woodmont Investment Counsel LLC purchased a new position in Air Products and Chemicals during the third quarter worth $119,000. Finally, Penserra Capital Management LLC increased its position in Air Products and Chemicals by 100.0% in the third quarter. Penserra Capital Management LLC now owns 864 shares of the company’s stock worth $129,000 after buying an additional 432 shares during the period. 88.73% of the stock is currently owned by institutional investors.
About Air Products and Chemicals
Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
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