Praxair, Inc. (NYSE:PX) was upgraded by UBS AG from a “neutral” rating to a “positive” rating in a report released on Thursday, The Fly reports.

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Vertical Group upgraded shares of Praxair to a “hold” rating and lifted their target price for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 target price (up from $140.00) on shares of Praxair in a report on Saturday, June 3rd. J P Morgan Chase & Co reiterated an “overweight” rating and set a $156.00 target price (up from $130.00) on shares of Praxair in a report on Sunday, June 11th. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and lifted their target price for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Praxair currently has a consensus rating of “Hold” and an average target price of $136.82.

Shares of Praxair (NYSE:PX) opened at 132.46 on Thursday. The stock has a 50 day moving average price of $131.56 and a 200 day moving average price of $127.46. The stock has a market capitalization of $37.89 billion, a P/E ratio of 24.81 and a beta of 0.93. Praxair has a 52 week low of $114.43 and a 52 week high of $138.69.

Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the business earned $1.39 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Praxair will post $5.47 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Praxair by 2,091.9% during the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. Parnassus Investments CA raised its stake in Praxair by 48.5% during the 1st quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the last quarter. Renaissance Technologies LLC raised its stake in Praxair by 287.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after buying an additional 1,158,100 shares during the last quarter. CI Global Investments Inc. raised its stake in Praxair by 141.4% during the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock valued at $256,322,000 after buying an additional 1,132,606 shares during the last quarter. Finally, Capital World Investors raised its stake in Praxair by 4.3% during the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after buying an additional 716,835 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Praxair Company Profile

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.

The Fly

Analyst Recommendations for Praxair (NYSE:PX)

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