Zacks Investment Research Reiterates Hold Rating for Air Products & Chemicals (APD)
Air Products & Chemicals (NYSE:APD)‘s stock had its “hold” rating restated by Zacks Investment Research in a research note issued to investors on Monday.
According to Zacks, “Air Products has a strong project backlog. Moreover, strategic investments in high-return projects, new business deals, cost cuts and acquisitions should drive results in fiscal 2018. The company has also outperformed the industry it belongs to over the past one year. However, Air Products faces headwind from higher maintenance outage costs. Higher maintenance costs may affect its margins in the fiscal fourth quarter. The company's global gases sales also remain under pressure. Air Products is also seeing pressure in its LNG business and faces some earnings headwind from tax charges.”
Several other research firms also recently issued reports on APD. Credit Suisse Group lifted their price target on shares of Air Products & Chemicals from $182.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, July 27th. BNP Paribas initiated coverage on shares of Air Products & Chemicals in a research report on Tuesday, October 2nd. They issued an “outperform” rating for the company. ValuEngine downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Vertical Research raised shares of Air Products & Chemicals from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Air Products & Chemicals from $172.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $190.08.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.01. Air Products & Chemicals had a net margin of 16.77% and a return on equity of 15.30%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm posted $1.76 EPS. Air Products & Chemicals’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Air Products & Chemicals will post 8.2 earnings per share for the current year.
In other news, Chairman Seifi Ghasemi acquired 20,000 shares of the business’s stock in a transaction on Monday, November 12th. The shares were purchased at an average cost of $160.11 per share, with a total value of $3,202,200.00. Following the acquisition, the chairman now directly owns 408,652 shares of the company’s stock, valued at $65,429,271.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.37% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Honkamp Krueger Financial Services Inc. purchased a new position in shares of Air Products & Chemicals in the 3rd quarter worth about $116,000. Braun Bostich & Associates Inc. boosted its holdings in shares of Air Products & Chemicals by 542.6% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock worth $115,000 after buying an additional 624 shares during the last quarter. NuWave Investment Management LLC boosted its holdings in shares of Air Products & Chemicals by 8,770.0% in the 3rd quarter. NuWave Investment Management LLC now owns 887 shares of the basic materials company’s stock worth $148,000 after buying an additional 877 shares during the last quarter. IMS Capital Management purchased a new position in shares of Air Products & Chemicals in the 2nd quarter worth about $146,000. Finally, Douglass Winthrop Advisors LLC purchased a new position in shares of Air Products & Chemicals in the 3rd quarter worth about $200,000. 86.02% of the stock is currently owned by hedge funds and other institutional investors.
Air Products & Chemicals Company Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.
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