Jefferies Group Lowers Airgas Price Target to $116.00 (ARG)
Equities researchers at Jefferies Group lowered their price target on shares of Airgas (NYSE:ARG) from $121.00 to $116.00 in a research report issued on Friday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective suggests a potential upside of 9.73% from the stock’s previous close.
Airgas (NYSE:ARG) opened at 105.71 on Friday. Airgas has a 52 week low of $92.86 and a 52 week high of $113.16. The stock has a 50-day moving average of $106.5 and a 200-day moving average of $107.8. The company has a market cap of $7.818 billion and a price-to-earnings ratio of 22.11.
Airgas (NYSE:ARG) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by $0.03. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that Airgas will post $5.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, June 11th. This is an increase from Airgas’s previous quarterly dividend of $0.48.
Other equities research analysts have also recently issued reports about the stock. Analysts at Atlantic Securities downgraded shares of Airgas from an “overweight” rating to a “neutral” rating in a research note on Tuesday. They now have a $110.00 price target on the stock, down previously from $120.00. Separately, analysts at BGC Financial downgraded shares of Airgas from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. They now have a $115.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Airgas from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. They now have a $93.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $112.18.
Airgas, Inc (NYSE:ARG) is a distributor of industrial, medical and specialty gases (delivered in packaged or cylinder form), and hardgoods, such as welding equipment and supplies.
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