Air Products and Chemicals (NYSE:APD) PT Raised to $305.00

Air Products and Chemicals (NYSE:APD) had its price objective upped by Citigroup from $280.00 to $305.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target points to a potential upside of 16.72% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Bank of America lifted their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday, June 29th. UBS Group lifted their price objective on Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Air Products and Chemicals from $260.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $291.43.

Air Products and Chemicals Trading Up 1.3 %

Shares of Air Products and Chemicals stock opened at $261.31 on Friday. Air Products and Chemicals has a 1 year low of $212.24 and a 1 year high of $307.71. The firm has a market cap of $58.09 billion, a PE ratio of 23.58, a P/E/G ratio of 2.80 and a beta of 0.81. The stock has a fifty day moving average price of $263.04 and a 200-day moving average price of $250.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the firm posted $2.74 EPS. The business’s revenue was down 8.4% compared to the same quarter last year. Equities research analysts anticipate that Air Products and Chemicals will post 12.28 EPS for the current year.

Institutional Trading of Air Products and Chemicals

A number of large investors have recently modified their holdings of the business. Capital Research Global Investors boosted its position in shares of Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after acquiring an additional 4,309,040 shares during the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $852,288,000. Raymond James & Associates boosted its position in shares of Air Products and Chemicals by 8.7% during the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after acquiring an additional 167,800 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Air Products and Chemicals by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,029,678 shares of the basic materials company’s stock worth $491,730,000 after buying an additional 64,427 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Air Products and Chemicals by 50.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after buying an additional 520,179 shares during the last quarter. 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.