Air Products and Chemicals (NYSE:APD) Releases Earnings Results, Beats Expectations By $0.12 EPS

Air Products and Chemicals (NYSE:APD) issued its quarterly earnings data on Thursday. The basic materials company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12, reports. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.19 billion.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $312.94 on Friday. The stock’s fifty day simple moving average is $301.56 and its 200 day simple moving average is $276.93. The stock has a market capitalization of $69.57 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.21 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $332.42.

Wall Street Analyst Weigh In

APD has been the topic of a number of recent analyst reports. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. The Goldman Sachs Group lifted their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their target price for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $327.00.

Institutional Trading of Air Products and Chemicals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals during the second quarter valued at $32,000. Prospera Private Wealth LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter worth about $42,000. Trifecta Capital Advisors LLC boosted its position in Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 136 shares during the period. Finally, Reston Wealth Management LLC purchased a new position in Air Products and Chemicals during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.