Praxair, Inc. (PX) Receives Average Recommendation of “Hold” from Brokerages
Shares of Praxair, Inc. (NYSE:PX) have received a consensus recommendation of “Hold” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $136.89.
A number of brokerages have commented on PX. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price objective (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $156.00 target price (up from $130.00) on shares of Praxair in a research report on Sunday, June 11th. BidaskClub downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research report on Friday, June 2nd.
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A number of large investors have recently modified their holdings of the stock. W. E. Donoghue & Co. LLC acquired a new stake in Praxair during the 2nd quarter worth $2,200,000. Griffin Asset Management Inc. acquired a new stake in Praxair during the 2nd quarter worth $801,000. Atlantic Trust LLC boosted its stake in Praxair by 24.2% during the 2nd quarter. Atlantic Trust LLC now owns 3,975 shares of the basic materials company’s stock worth $527,000 after purchasing an additional 775 shares during the period. Cetera Investment Advisers acquired a new stake in Praxair during the 2nd quarter worth $201,000. Finally, EP Wealth Advisors LLC acquired a new stake in Praxair during the 2nd quarter worth $230,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Shares of Praxair (NYSE:PX) opened at 134.22 on Friday. Praxair has a 1-year low of $114.43 and a 1-year high of $138.69. The firm has a market capitalization of $38.39 billion, a P/E ratio of 25.13 and a beta of 0.93. The stock’s 50 day moving average is $131.52 and its 200 day moving average is $128.05.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the firm posted $1.39 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Praxair will post $5.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s dividend payout ratio is currently 58.88%.
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.
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