Air Products and Chemicals (NYSE:APD) Rating Increased to Neutral at Redburn Atlantic

Air Products and Chemicals (NYSE:APD) was upgraded by equities research analysts at Redburn Atlantic from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $330.00 target price on the basic materials company’s stock. Redburn Atlantic’s price objective indicates a potential upside of 3.77% from the company’s previous close.

APD has been the topic of several other reports. The Goldman Sachs Group raised their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Citigroup upped their target price on Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. Finally, Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.12.

Air Products and Chemicals Stock Down 1.3 %

Shares of Air Products and Chemicals stock opened at $318.02 on Friday. The stock has a 50-day simple moving average of $294.60 and a 200-day simple moving average of $271.51. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $332.42. The firm has a market cap of $70.70 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10.

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

Institutional Trading of Air Products and Chemicals

Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at approximately $32,000. Hexagon Capital Partners LLC lifted its holdings in 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 purchasing an additional 135 shares during the last quarter. Iron Horse Wealth Management LLC grew its stake in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC raised its stake in shares of Air Products and Chemicals by 1,700.0% in the second 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 last quarter. Finally, Beacon Capital Management LLC grew its position in Air Products and Chemicals by 128.8% during the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 103 shares during the last quarter. Institutional investors 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.