Air Products and Chemicals (NYSE:APD) Price Target Raised to $275.00

Air Products and Chemicals (NYSE:APD) had its price target boosted by Bank of America from $272.00 to $275.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other brokerages also recently issued reports on APD. JPMorgan Chase & Co. lowered 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. Morgan Stanley dropped their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company lowered shares of Air Products and Chemicals from an overweight rating to an equal weight rating in a research note on Monday, February 5th. Citigroup lowered their price objective on shares of Air Products and Chemicals from $285.00 to $280.00 and set a buy rating for the company in a research report on Wednesday. Finally, StockNews.com raised shares of Air Products and Chemicals from a sell rating to a hold rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals has an average rating of Hold and a consensus target price of $277.43.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $245.87 on Wednesday. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.62 and a beta of 0.80. The firm’s 50 day simple moving average is $237.96 and its 200 day simple moving average is $254.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the business posted $2.74 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Air Products and Chemicals will post 12.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vicus Capital acquired a new stake in Air Products and Chemicals in the third quarter valued at $222,000. Cambridge Investment Research Advisors Inc. grew its holdings in Air Products and Chemicals by 2.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 34,884 shares of the basic materials company’s stock worth $9,886,000 after purchasing an additional 939 shares during the period. FinTrust Capital Advisors LLC increased its position in Air Products and Chemicals by 40.4% during the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after buying an additional 38 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Air Products and Chemicals by 4.5% in the third quarter. Stratos Wealth Partners LTD. now owns 30,988 shares of the basic materials company’s stock valued at $8,782,000 after buying an additional 1,348 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its position in shares of Air Products and Chemicals by 9.6% in the third quarter. Moody Lynn & Lieberson LLC now owns 801 shares of the basic materials company’s stock valued at $227,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

About Air Products and Chemicals

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.