Praxair, Inc. (PX) Receives Average Recommendation of “Hold” from Brokerages
Shares of Praxair, Inc. (NYSE:PX) have received a consensus rating of “Hold” from the eighteen analysts that are currently covering the company. Two research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $122.90.
PX has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Friday, April 21st. Barclays PLC boosted their price target on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Seaport Global Securities downgraded Praxair from an “accumulate” rating to a “neutral” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. upgraded Praxair from a “neutral” rating to an “overweight” rating and set a $125.00 price target for the company in a report on Friday, January 27th. Finally, Evercore ISI initiated coverage on Praxair in a report on Monday, February 13th. They issued a “sell” rating and a $107.00 price target for the company.
Praxair (NYSE:PX) opened at 129.09 on Friday. The firm has a market capitalization of $36.84 billion, a P/E ratio of 24.27 and a beta of 0.98. Praxair has a one year low of $106.31 and a one year high of $129.53. The company has a 50-day moving average price of $121.35 and a 200-day moving average price of $118.96.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. Praxair had a return on equity of 28.75% and a net margin of 14.24%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the business earned $1.28 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Praxair will post $5.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, June 7th will be paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Monday, June 5th. Praxair’s dividend payout ratio is presently 57.47%.
Several hedge funds have recently bought and sold shares of PX. State Street Corp increased its stake in Praxair by 3.9% in the fourth quarter. State Street Corp now owns 13,745,641 shares of the basic materials company’s stock worth $1,610,853,000 after buying an additional 513,906 shares in the last quarter. ETRADE Capital Management LLC increased its stake in Praxair by 0.5% in the third quarter. ETRADE Capital Management LLC now owns 12,837 shares of the basic materials company’s stock worth $1,551,000 after buying an additional 65 shares in the last quarter. Aviva PLC increased its stake in Praxair by 6.3% in the fourth quarter. Aviva PLC now owns 186,563 shares of the basic materials company’s stock worth $21,875,000 after buying an additional 10,987 shares in the last quarter. Credit Suisse AG increased its stake in Praxair by 13.1% in the third quarter. Credit Suisse AG now owns 441,314 shares of the basic materials company’s stock worth $53,326,000 after buying an additional 51,107 shares in the last quarter. Finally, Searle & CO. purchased a new stake in Praxair during the fourth quarter worth approximately $250,000. 83.03% of the stock is currently owned by institutional investors.
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Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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