Air Products and Chemicals (NYSE:APD) PT Raised to $275.00 at Bank of America

Air Products and Chemicals (NYSE:APD) had its target price raised by stock analysts at Bank of America from $272.00 to $275.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price target would suggest a potential upside of 15.69% from the company’s current price.

Several other research firms have also commented on APD. Wells Fargo & Company lowered Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Argus downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Morgan Stanley dropped their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. JPMorgan Chase & Co. cut their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Barclays decreased their price objective on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $276.36.

Air Products and Chemicals Stock Up 0.6 %

Shares of NYSE APD traded up $1.36 during mid-day trading on Wednesday, hitting $237.70. 766,551 shares of the stock traded hands, compared to its average volume of 1,726,719. The stock has a fifty day moving average price of $237.53 and a 200-day moving average price of $254.67. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. The company has a market cap of $52.84 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.62 and a beta of 0.81. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.74 EPS. Research analysts anticipate that Air Products and Chemicals will post 12.38 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in Air Products and Chemicals by 167.2% during the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after acquiring an additional 4,330,471 shares during the period. Norges Bank acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $852,288,000. Nordea Investment Management AB increased its stake in shares of Air Products and Chemicals by 1,696.4% during the fourth quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock worth $142,344,000 after purchasing an additional 489,350 shares in the last quarter. Scharf Investments LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth about $87,173,000. Finally, Morningstar Investment Services LLC lifted its stake in Air Products and Chemicals by 96.4% in the 4th quarter. Morningstar Investment Services LLC now owns 684,057 shares of the basic materials company’s stock valued at $187,589,000 after buying an additional 335,717 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.