Praxair (PX) Receives “Outperform” Rating from Raymond James Financial

Praxair (NYSE:PX)‘s stock had its “outperform” rating reissued by analysts at Raymond James Financial in a report issued on Tuesday.

Several other research firms also recently weighed in on PX. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. UBS Group cut Praxair from a “strong-buy” rating to an “outperform” rating in a report on Tuesday. Deutsche Bank upgraded Praxair from a “hold” rating to a “buy” rating and raised their price objective for the stock from $155.00 to $175.00 in a report on Tuesday, December 19th. Jefferies Group set a $186.00 target price on Praxair and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Barclays boosted their price objective on Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $159.86.

Praxair (NYSE:PX) traded down $1.26 during trading hours on Tuesday, hitting $160.62. The stock had a trading volume of 1,523,400 shares, compared to its average volume of 1,922,757. Praxair has a twelve month low of $115.53 and a twelve month high of $166.08. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. The firm has a market cap of $46,347.10, a PE ratio of 28.58, a P/E/G ratio of 2.22 and a beta of 1.00.

Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business posted $1.41 EPS. Praxair’s quarterly revenue was up 7.6% on a year-over-year basis. research analysts forecast that Praxair will post 5.81 EPS for the current fiscal year.

In related news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. boosted its holdings in shares of Praxair by 1.0% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 256,321 shares of the basic materials company’s stock valued at $35,818,000 after buying an additional 2,489 shares in the last quarter. Atlantic Trust Group LLC grew its stake in shares of Praxair by 1.4% during the 3rd quarter. Atlantic Trust Group LLC now owns 910,983 shares of the basic materials company’s stock valued at $127,300,000 after acquiring an additional 12,173 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Praxair by 14.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 7,458 shares of the basic materials company’s stock valued at $1,042,000 after acquiring an additional 962 shares during the period. SG Americas Securities LLC boosted its stake in Praxair by 81.9% in the 3rd quarter. SG Americas Securities LLC now owns 47,375 shares of the basic materials company’s stock worth $6,620,000 after purchasing an additional 21,333 shares during the period. Finally, Stephens Inc. AR boosted its position in shares of Praxair by 2.7% during the 3rd quarter. Stephens Inc. AR now owns 35,608 shares of the basic materials company’s stock valued at $4,976,000 after acquiring an additional 949 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Praxair (NYSE:PX)

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