Praxair, Inc. (PX) Stock Rating Reaffirmed by Jefferies Group LLC
Praxair, Inc. (NYSE:PX)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group LLC in a report released on Thursday. They currently have a $162.00 target price on the basic materials company’s stock. Jefferies Group LLC’s target price points to a potential upside of 13.18% from the company’s previous close.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target for the company in a report on Monday, July 31st. BidaskClub upgraded Praxair from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. KeyCorp reiterated a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $138.00.
Shares of Praxair (NYSE:PX) traded up 1.94% during trading on Thursday, reaching $143.14. 1,185,623 shares of the company were exchanged. The stock has a market capitalization of $40.94 billion, a P/E ratio of 26.81 and a beta of 0.95. Praxair has a 52-week low of $114.43 and a 52-week high of $143.14. The stock has a 50-day moving average of $138.13 and a 200 day moving average of $132.02.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Praxair will post $5.47 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd acquired a new position in shares of Praxair during the 1st quarter worth about $233,000. Capital Management Corp VA grew its position in shares of Praxair by 0.6% during the 2nd quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock worth $248,000 after buying an additional 11 shares during the period. Federated Investors Inc. PA grew its position in shares of Praxair by 47.3% during the 2nd quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock worth $1,333,000 after buying an additional 3,228 shares during the period. Seven Eight Capital LP acquired a new position in shares of Praxair during the 2nd quarter worth about $1,286,000. Finally, Mosaic Family Wealth LLC grew its position in shares of Praxair by 6.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock worth $173,000 after buying an additional 77 shares during the period. Institutional investors own 85.30% 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.
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