Praxair Stock Rating Reaffirmed by Zacks (PX)
Praxair (NYSE:PX)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Monday. They currently have a $140.00 price target on the stock. Zacks‘s price objective would indicate a potential upside of 5.03% from the stock’s previous close.
Zacks’ analyst wrote, “We believe Praxair is making earnest efforts to reap benefits from the booming demand for industrial gases. In this regard, the start-up of a new packaged gas filling plant in North Dakota, an oxygen supply plant in Uruguay and an air separation plant in Tennessee are worth mentioning. Additionally, strategic acquisitions in Texas, Oklahoma and Michigan coupled with the takeover of a mid-Atlantic joint venture, purchase of a gases business in Italy and a divestiture in France will bode well for the company. However, rising production costs remain a primary matter of concern for Praxair. Recently, the company hiked prices of its industrial, specialty and medical gases to compensate for rising costs. Considering all these, we maintain our Neutral recommendation on Praxair.”
Praxair (NYSE:PX) traded down 0.32% on Monday, hitting $132.87. 534,602 shares of the company’s stock traded hands. Praxair has a 52 week low of $114.68 and a 52 week high of $135.24. The stock’s 50-day moving average is $131. and its 200-day moving average is $130.1. The company has a market cap of $38.922 billion and a P/E ratio of 21.92.
Praxair (NYSE:PX) last released its earnings data on Wednesday, April 23rd. The company reported $1.51 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.51. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company posted $1.38 earnings per share. Praxair’s revenue was up 4.8% compared to the same quarter last year. Analysts expect that Praxair will post $6.44 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PX. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Praxair in a research note on Thursday, April 24th. They now have a $142.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Praxair in a research note on Thursday, April 24th. They now have a $146.00 price target on the stock, up previously from $145.00. Finally, analysts at Robert W. Baird raised their price target on shares of Praxair from $144.00 to $145.00 in a research note on Thursday, April 24th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Praxair presently has a consensus rating of “Buy” and a consensus price target of $142.08.
Praxair, Inc (NYSE:PX) is an industrial gases supplier.
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