Air Products and Chemicals (NYSE:APD) Price Target Raised to $275.00 at Bank of America

Air Products and Chemicals (NYSE:APD) had its price target increased by Bank of America from $272.00 to $275.00 in a report published on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the basic materials company’s stock.

APD has been the topic of several other research reports. Mizuho dropped their target price on Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research report on Wednesday. UBS Group cut Air Products and Chemicals from a buy rating to a neutral rating and dropped their price objective for the stock from $328.00 to $241.00 in a report on Thursday, February 8th. StockNews.com raised Air Products and Chemicals from a sell rating to a hold rating in a report on Monday, April 22nd. Barclays lowered their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating on the stock in a report on Tuesday, February 6th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $277.43.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $245.87 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58. The company has a market capitalization of $54.66 billion, a P/E ratio of 22.19, a P/E/G 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 business has a fifty day simple moving average of $237.96 and a two-hundred day simple moving average of $254.47.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.74 earnings per share. On average, analysts expect that Air Products and Chemicals will post 12.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APD. Capital Research Global Investors grew its holdings in Air Products and Chemicals by 167.2% in the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after acquiring an additional 4,330,471 shares during the last quarter. Morgan Stanley lifted its holdings in Air Products and Chemicals by 4.6% in the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after buying an additional 235,037 shares during the period. Northern Trust Corp lifted its holdings in Air Products and Chemicals by 1.0% in the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after buying an additional 39,215 shares during the period. Norges Bank bought a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $852,288,000. Finally, Raymond James & Associates raised its position in shares of Air Products and Chemicals by 8.7% in the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock worth $508,626,000 after acquiring an additional 167,800 shares in the last quarter. Hedge funds and other 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.