Praxair, Inc. (PX) Rating Increased to Buy at Zacks Investment Research
Praxair, Inc. (NYSE:PX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $165.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.78% from the stock’s previous close.
According to Zacks, “In the last three months, Praxair's shares outperformed the industry. We believe that the company is poised to leverage benefits from its diversified product portfolio, a large client base and organic and inorganic growth strategies in the long term. In third-quarter 2017, the company's earnings and sales beat their respective estimates by 4.2% and 1.8%. For 2017, Praxair raised its earnings guidance to $5.78-$5.83, reflecting 12 cents increase at mid-point compared with the previous guidance of $5.63-$5.75. Also, the company's merger with Linde will create a leading industrial gas company with a strong international presence, a large customer base and solid financial flexibility.”
A number of other equities research analysts also recently issued reports on PX. Citigroup Inc. upgraded shares of Praxair from a “neutral” rating to a “buy” rating and boosted their target price for the company from $137.00 to $168.00 in a report on Monday, October 30th. UBS AG boosted their target price on shares of Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, October 27th. Barclays PLC boosted their price objective on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $148.62.
Shares of Praxair (NYSE:PX) opened at $148.95 on Monday. Praxair has a twelve month low of $115.00 and a twelve month high of $149.91. The stock has a market cap of $42,221.44, a P/E ratio of 25.69, a P/E/G ratio of 2.20 and a beta of 0.99. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.
Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. Praxair’s revenue was up 7.6% compared to the same quarter last year. equities analysts anticipate that Praxair will post 5.81 EPS for the current year.
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Hedge funds have recently made changes to their positions in the company. Guardian Life Insurance Co. of America raised its holdings 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 valued at $131,000 after acquiring an additional 8 shares in the last quarter. Capital Management Corp VA raised its holdings in Praxair by 0.6% in the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 11 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in Praxair by 0.5% in the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 13 shares in the last quarter. Lcnb Corp raised its holdings in Praxair by 0.4% in the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock valued at $461,000 after acquiring an additional 15 shares in the last quarter. Finally, Birch Hill Investment Advisors LLC raised its holdings in Praxair by 0.5% in the first quarter. Birch Hill Investment Advisors LLC now owns 4,154 shares of the basic materials company’s stock valued at $493,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.
Praxair Company Profile
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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