Air Products and Chemicals (NYSE:APD – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
Several other analysts also recently weighed in on APD. TD Cowen boosted their price objective on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays upped their target price on Air Products and Chemicals from $245.00 to $290.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley upped their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Wolfe Research began coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 target price for the company. Finally, Mizuho decreased their target price on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $287.29.
Air Products and Chemicals Price Performance
NYSE:APD traded up $2.26 during mid-day trading on Thursday, reaching $285.31. The stock had a trading volume of 2,042,231 shares, compared to its average volume of 1,704,249. The firm has a 50 day moving average price of $251.88 and a two-hundred day moving average price of $251.72. The stock has a market capitalization of $63.43 billion, a P/E ratio of 25.75, a P/E/G ratio of 3.06 and a beta of 0.84. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49.
Air Products and Chemicals (NYSE:APD – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share 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 the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company posted $2.74 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. As a group, analysts expect that Air Products and Chemicals will post 12.3 earnings per share for the current year.
Institutional Investors Weigh In On Air Products and Chemicals
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Keynote Financial Services LLC purchased a new stake in shares of Air Products and Chemicals during the first quarter worth about $348,000. Maxwell Wealth Strategies Inc. grew its position in shares of Air Products and Chemicals by 0.9% during the first quarter. Maxwell Wealth Strategies Inc. now owns 7,942 shares of the basic materials company’s stock worth $2,069,000 after purchasing an additional 72 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Air Products and Chemicals during the first quarter worth about $2,248,000. Soltis Investment Advisors LLC grew its position in shares of Air Products and Chemicals by 4.7% during the first quarter. Soltis Investment Advisors LLC now owns 26,414 shares of the basic materials company’s stock worth $6,399,000 after purchasing an additional 1,193 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its position in shares of Air Products and Chemicals by 9.4% during the first quarter. Cetera Advisor Networks LLC now owns 87,073 shares of the basic materials company’s stock worth $21,095,000 after purchasing an additional 7,511 shares in the last quarter. 81.66% of the stock is owned by institutional investors.
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.