Praxair, Inc. (PX) Receives $178.80 Consensus Target Price from Brokerages
Shares of Praxair, Inc. (NYSE:PX) have earned a consensus rating of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $178.80.
PX has been the topic of several research reports. ValuEngine raised Praxair from a “hold” rating to a “buy” rating in a report on Friday, June 29th. TheStreet raised Praxair from a “c+” rating to an “a-” rating in a report on Thursday, April 26th. Seaport Global Securities reissued a “hold” rating and issued a $175.00 target price on shares of Praxair in a report on Tuesday. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a report on Monday, April 30th. Finally, Jefferies Financial Group reaffirmed a “$165.03” rating and set a $194.00 price objective on shares of Praxair in a research note on Wednesday, July 18th.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Chartwell Investment Partners LLC acquired a new stake in Praxair in the 2nd quarter worth about $3,512,000. CIBC Asset Management Inc boosted its stake in Praxair by 2.0% in the 2nd quarter. CIBC Asset Management Inc now owns 33,029 shares of the basic materials company’s stock worth $5,224,000 after buying an additional 662 shares during the last quarter. Sun Life Financial INC boosted its stake in Praxair by 414.8% in the 2nd quarter. Sun Life Financial INC now owns 2,162 shares of the basic materials company’s stock worth $342,000 after buying an additional 1,742 shares during the last quarter. Reynders McVeigh Capital Management LLC acquired a new stake in Praxair in the 2nd quarter worth about $217,000. Finally, Private Advisor Group LLC acquired a new stake in Praxair in the 2nd quarter worth about $917,000. 85.61% of the stock is currently owned by institutional investors and hedge funds.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 26th. The basic materials company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.05 billion. Praxair had a return on equity of 27.84% and a net margin of 11.68%. Praxair’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. equities analysts predict that Praxair will post 6.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Monday, August 6th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, August 3rd. Praxair’s payout ratio is currently 56.41%.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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