BidaskClub Upgrades Praxair, Inc. (NYSE:PX) to “Buy”
Praxair, Inc. (NYSE:PX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday, July 6th.
PX has been the topic of several other research reports. Barclays PLC increased their price target on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. Finally, Bank of America Corporation raised Praxair from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, June 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $130.77.
Shares of Praxair (NYSE PX) traded up 0.55% during midday trading on Thursday, reaching $134.31. The company had a trading volume of 1,078,850 shares. The stock has a market capitalization of $38.39 billion, a PE ratio of 25.25 and a beta of 0.94. Praxair has a 12-month low of $114.43 and a 12-month high of $138.69. The stock’s 50 day moving average is $132.66 and its 200-day moving average is $122.59.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.04. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.62 billion. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, equities research analysts predict that Praxair will post $5.47 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Carroll Financial Associates Inc. raised its position in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank raised its position in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Capital Analysts LLC raised its position in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after buying an additional 8 shares during the last quarter. Finally, First Command Bank raised its position in Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock worth $133,000 after buying an additional 112 shares during the last quarter. 85.56% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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