Air Products and Chemicals (NYSE:APD) Upgraded to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Air Products and Chemicals (NYSE:APD) from a hold rating to a buy rating in a research note published on Monday, MarketBeat.com reports. Jefferies Financial Group currently has $364.00 price objective on the basic materials company’s stock, up from their prior price objective of $295.00.

Other equities analysts also recently issued reports about the company. UBS Group raised their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a neutral rating in a report on Tuesday, August 20th. Citigroup lifted their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a buy rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a buy rating to a hold rating and cut their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. Bank of America upped their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the company a buy rating in a research report on Monday, June 10th. Finally, BMO Capital Markets increased their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an outperform rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $309.18.

Air Products and Chemicals Trading Up 9.5 %

APD opened at $312.71 on Monday. 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 $313.00. The stock has a market cap of $69.52 billion, a PE ratio of 28.22, a PEG ratio of 3.89 and a beta of 0.82. The business has a 50 day moving average of $280.67 and a 200-day moving average of $263.24.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Equities research analysts predict that Air Products and Chemicals will post 12.33 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.26%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Thompson Investment Management Inc. purchased a new stake in shares of Air Products and Chemicals in the 1st quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $28,000. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals in the second quarter worth about $32,000. Hexagon Capital Partners LLC lifted its position in shares of Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after buying an additional 135 shares in the last quarter. Finally, Trifecta Capital Advisors LLC grew its stake in shares of 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 valued at $37,000 after acquiring an additional 136 shares during the period. 81.66% of the stock is currently owned by institutional investors.

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.