Air Products and Chemicals (NYSE:APD) Given New $365.00 Price Target at Wells Fargo & Company

Air Products and Chemicals (NYSE:APD) had its price target hoisted by Wells Fargo & Company from $350.00 to $365.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 17.13% from the company’s current price.

Several other brokerages have also recently weighed in on APD. UBS Group lifted their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a report on Friday, October 25th. BMO Capital Markets increased their price target on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. Finally, Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Stock Performance

APD opened at $311.61 on Friday. The firm has a 50 day moving average of $310.30 and a two-hundred day moving average of $300.85. The firm has a market capitalization of $69.30 billion, a PE ratio of 18.21, a P/E/G ratio of 3.55 and a beta of 0.85. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals has a 12-month low of $213.80 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.64% and a return on equity of 16.34%. On average, analysts anticipate that Air Products and Chemicals will post 12.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of APD. Raymond James Financial Inc. acquired a new position in Air Products and Chemicals during the fourth quarter worth $885,371,000. Pathway Financial Advisers LLC boosted its position in shares of Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after acquiring an additional 2,884,581 shares during the last quarter. ING Groep NV grew its holdings in shares of Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after purchasing an additional 723,019 shares during the period. Mizuho Markets Americas LLC raised its stake in Air Products and Chemicals by 318.7% during the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after purchasing an additional 722,132 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Air Products and Chemicals by 1,685.4% in the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after purchasing an additional 721,671 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other 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.