Air Products and Chemicals (NYSE:APD) Price Target Raised to $320.00 at TD Cowen

Air Products and Chemicals (NYSE:APD) had its price target lifted by TD Cowen from $305.00 to $320.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the stock an outperform rating in a research report on Wednesday. StockNews.com upgraded shares of Air Products and Chemicals from a sell rating to a hold rating in a research report on Monday, April 22nd. Morgan Stanley reduced their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating on the stock in a report on Wednesday, February 7th. Citigroup reduced their target price on shares of Air Products and Chemicals from $285.00 to $280.00 and set a buy rating on the stock in a report on Wednesday. Finally, Seaport Res Ptn lowered shares of Air Products and Chemicals from a buy rating to a neutral rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $277.43.

Air Products and Chemicals Price Performance

APD stock opened at $237.50 on Wednesday. The company has a 50 day simple moving average of $237.72 and a 200 day simple moving average of $254.55. The stock has a market cap of $52.80 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 2.62 and a beta of 0.81. Air Products and Chemicals has a 1 year low of $212.24 and a 1 year high of $307.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.74 EPS. Research analysts anticipate that Air Products and Chemicals will post 12.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Air Products and Chemicals

A number of institutional investors have recently modified their holdings of the company. Argent Advisors Inc. boosted its stake in shares of Air Products and Chemicals by 15.5% in the 1st quarter. Argent Advisors Inc. now owns 2,939 shares of the basic materials company’s stock valued at $712,000 after purchasing an additional 395 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its position in shares of Air Products and Chemicals by 6.0% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 8,552 shares of the basic materials company’s stock valued at $2,072,000 after acquiring an additional 484 shares during the period. Fortem Financial Group LLC lifted its position in shares of Air Products and Chemicals by 33.6% during the 1st quarter. Fortem Financial Group LLC now owns 2,647 shares of the basic materials company’s stock valued at $641,000 after acquiring an additional 665 shares during the period. Schear Investment Advisers LLC raised its holdings in shares of Air Products and Chemicals by 140.3% in the first quarter. Schear Investment Advisers LLC now owns 3,513 shares of the basic materials company’s stock valued at $851,000 after purchasing an additional 2,051 shares during the last quarter. Finally, Janney Capital Management LLC raised its holdings in shares of Air Products and Chemicals by 65.4% in the first quarter. Janney Capital Management LLC now owns 57,676 shares of the basic materials company’s stock valued at $13,973,000 after purchasing an additional 22,804 shares during 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.