Air Products and Chemicals (NYSE:APD – Get Rating) had its target price cut by Wells Fargo & Company from $273.00 to $252.00 in a research note published on Tuesday morning, MarketBeat reports. They currently have an equal weight rating on the basic materials company's stock.
APD has been the topic of several other research reports. StockNews.com initiated coverage on shares of Air Products and Chemicals in a research report on Wednesday, October 12th. They set a hold rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Air Products and Chemicals from $275.00 to $295.00 in a report on Friday, August 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Air Products and Chemicals from $275.00 to $290.00 and gave the stock a buy rating in a report on Friday, August 5th. Seaport Res Ptn upgraded shares of Air Products and Chemicals from a neutral rating to a buy rating in a report on Thursday, October 13th. Finally, Berenberg Bank cut their price objective on shares of Air Products and Chemicals from $290.00 to $260.00 and set a hold rating on the stock in a report on Wednesday, October 12th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of Moderate Buy and an average target price of $290.22.
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Air Products and Chemicals Price Performance
APD stock opened at $238.32 on Tuesday. The firm's 50-day moving average price is $248.41 and its two-hundred day moving average price is $244.56. Air Products and Chemicals has a 12-month low of $216.24 and a 12-month high of $316.39. The stock has a market capitalization of $52.86 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.45 and a beta of 0.79. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.48.
Air Products and Chemicals (NYSE:APD – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.01. Air Products and Chemicals had a net
margin of 19.08% and a return on equity of 15.61%. The company had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. Air Products and Chemicals's quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities analysts predict that Air Products and Chemicals will post 10.28 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sierra Capital LLC lifted its position in Air Products and Chemicals by 1,060.0% during the second quarter. Sierra Capital LLC now owns 116 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 106 shares during the period. SJS Investment Consulting Inc. bought a new position in Air Products and Chemicals in the first quarter worth approximately $30,000. Rise Advisors LLC raised its position in Air Products and Chemicals by 57.7% in the first quarter. Rise Advisors LLC now owns 123 shares of the basic materials company's stock worth $31,000 after acquiring an additional 45 shares during the period. Artemis Wealth Advisors LLC bought a new position in Air Products and Chemicals in the second quarter worth approximately $33,000. Finally, Rational Advisors LLC raised its position in Air Products and Chemicals by 68.6% in the first quarter. Rational Advisors LLC now owns 145 shares of the basic materials company's stock worth $36,000 after acquiring an additional 59 shares during the period. Institutional investors own 82.68% of the company's stock.
Air Products and Chemicals Company Profile
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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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 refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
Further Reading
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