Air Products and Chemicals (NYSE:APD) Price Target Lowered to $280.00 at Citigroup

Air Products and Chemicals (NYSE:APD) had its price objective trimmed by Citigroup from $285.00 to $280.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other equities analysts also recently commented on the stock. Wolfe Research started coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They set an outperform rating and a $279.00 price objective for the company. TD Cowen lowered their price target on Air Products and Chemicals from $345.00 to $305.00 and set an outperform rating for the company in a research report on Friday, February 16th. Morgan Stanley dropped their price objective on Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. TheStreet cut Air Products and Chemicals from a b rating to a c+ rating in a research note on Monday, February 5th. Finally, Mizuho dropped their price target on Air Products and Chemicals from $295.00 to $286.00 and set a buy rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of Hold and a consensus price target of $277.43.

Air Products and Chemicals Trading Up 0.9 %

NYSE APD opened at $245.87 on Wednesday. The firm has a market cap of $54.66 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $307.71. The stock has a 50-day moving average of $237.96 and a 200-day moving average of $254.47. The company has a current ratio of 1.49, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77.

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 for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $2.74 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Air Products and Chemicals will post 12.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Cape Cod Five Cents Savings Bank purchased a new stake in Air Products and Chemicals in the third quarter worth about $376,000. Eos Management L.P. grew its stake in shares of Air Products and Chemicals by 26.2% in the 4th quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after buying an additional 5,727 shares during the last quarter. Roffman Miller Associates Inc. PA grew its stake in shares of Air Products and Chemicals by 3.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after buying an additional 2,285 shares during the last quarter. BKM Wealth Management LLC bought a new position in Air Products and Chemicals during the 4th quarter valued at approximately $1,177,000. Finally, Bellwether Advisors LLC purchased a new position in Air Products and Chemicals during the third quarter valued at $501,000. 81.66% of the stock is currently owned by institutional investors.

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.