BMO Capital Markets Increases Air Products and Chemicals (NYSE:APD) Price Target to $300.00

Air Products and Chemicals (NYSE:APD) had its target price boosted by analysts at BMO Capital Markets from $294.00 to $300.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price suggests a potential upside of 15.23% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Bank of America lifted their target price 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. JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. UBS Group increased their target price on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday. Mizuho cut their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Citigroup reduced 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, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $289.64.

Air Products and Chemicals Stock Up 1.8 %

NYSE APD traded up $4.68 during mid-day trading on Thursday, hitting $260.34. The company’s stock had a trading volume of 213,002 shares, compared to its average volume of 1,761,139. The firm has a market capitalization of $57.88 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.76 and a beta of 0.81. The company’s 50 day simple moving average is $262.45 and its 200 day simple moving average is $250.81. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month 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 EPS 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 during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm posted $2.74 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts anticipate that Air Products and Chemicals will post 12.3 earnings per share for the current year.

Institutional Trading of Air Products and Chemicals

A number of institutional investors have recently added to or reduced their stakes in APD. Eos Management L.P. boosted its position in shares of Air Products and Chemicals by 26.2% in the fourth quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock valued at $7,545,000 after acquiring an additional 5,727 shares during the period. Roffman Miller Associates Inc. PA lifted its stake in Air Products and Chemicals by 3.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after purchasing an additional 2,285 shares in the last quarter. BKM Wealth Management LLC bought a new position in Air Products and Chemicals in the 4th quarter valued at $1,177,000. Zenyatta Capital Management LP grew its position in shares of Air Products and Chemicals by 46.7% during the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock valued at $6,024,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY increased its holdings in shares of Air Products and Chemicals by 37.6% in the fourth quarter. Bristol John W & Co. Inc. NY now owns 388,474 shares of the basic materials company’s stock worth $106,364,000 after purchasing an additional 106,054 shares during the period. Hedge funds and other institutional investors 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.