Air Products and Chemicals (NYSE:APD – Get Free Report) had its price objective cut by equities research analysts at BMO Capital Markets from $307.00 to $250.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 16.13% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $310.00 to $295.00 and set an “overweight” rating for the company in a research report on Wednesday, November 8th. Redburn Atlantic cut shares of Air Products and Chemicals from a “buy” rating to a “sell” rating and set a $240.00 target price for the company. in a report on Friday, November 17th. Finally, Wells Fargo & Company cut shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $290.00.
Air Products and Chemicals Trading Down 1.3 %
Air Products and Chemicals (NYSE:APD – Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the company earned $2.64 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts predict that Air Products and Chemicals will post 12.35 EPS for the current fiscal year.
In other news, CEO Seifi Ghasemi acquired 11,000 shares of the stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $264.42 per share, with a total value of $2,908,620.00. Following the completion of the purchase, the chief executive officer now directly owns 670,673 shares of the company’s stock, valued at approximately $177,339,354.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.
Institutional Trading of Air Products and Chemicals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Partnership Wealth Management LLC acquired a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $511,000. Avantax Advisory Services Inc. increased its position in Air Products and Chemicals by 23.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,900 shares of the basic materials company’s stock valued at $2,711,000 after purchasing an additional 1,902 shares during the period. McKinley Carter Wealth Services Inc. increased its position in Air Products and Chemicals by 2.6% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 7,565 shares of the basic materials company’s stock valued at $2,071,000 after purchasing an additional 189 shares during the period. Ieq Capital LLC increased its position in Air Products and Chemicals by 27.6% during the 4th quarter. Ieq Capital LLC now owns 9,553 shares of the basic materials company’s stock valued at $2,616,000 after purchasing an additional 2,068 shares during the period. Finally, Forum Financial Management LP increased its position in Air Products and Chemicals by 23.4% during the 4th quarter. Forum Financial Management LP now owns 1,870 shares of the basic materials company’s stock valued at $512,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 82.62% 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.
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