Praxair (NYSE:PX) was upgraded by Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $175.00 price objective on the basic materials company’s stock. Deutsche Bank’s price target would suggest a potential upside of 13.51% from the stock’s current price.
Several other equities research analysts have also recently commented on the stock. J P Morgan Chase & Co raised their target price on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a research report on Monday, November 6th. Susquehanna Bancshares raised shares of Praxair from a “neutral” rating to a “positive” rating and raised their target price for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. Argus raised shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research report on Monday, November 13th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $158.64.
Shares of Praxair (NYSE:PX) traded up $0.84 on Tuesday, reaching $154.17. 1,809,617 shares of the company’s stock traded hands, compared to its average volume of 1,366,943. The stock has a market cap of $42,831.27, a PE ratio of 26.06, a P/E/G ratio of 2.23 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. Praxair has a fifty-two week low of $115.00 and a fifty-two week high of $156.40.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of PX. Parallel Advisors LLC increased its stake in Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 123 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in Praxair by 149.8% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 430 shares in the last quarter. BB&T Investment Services Inc. bought a new stake in Praxair during the 2nd quarter valued at about $106,000. Tortoise Investment Management LLC increased its stake in Praxair by 3.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares in the last quarter. Finally, Pacific Center for Financial Services increased its stake in Praxair by 65.7% during the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 356 shares in the last quarter. Institutional investors own 85.55% of the company’s stock.
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About Praxair
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.
