Praxair (NYSE:PX) had its target price boosted by analysts at SunTrust Banks to $185.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the basic materials company’s stock. SunTrust Banks’ price objective would indicate a potential upside of 11.65% from the company’s previous close. SunTrust Banks also issued estimates for Praxair’s Q1 2018 earnings at $1.56 EPS, Q2 2018 earnings at $1.64 EPS, Q3 2018 earnings at $1.70 EPS and FY2018 earnings at $6.62 EPS.
Other research analysts also recently issued research reports about the stock. Citigroup reiterated a “buy” rating and set a $188.00 price target on shares of Praxair in a research report on Friday. Barclays upped their price target on shares of Praxair from $160.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday. Susquehanna Bancshares upped their price target on shares of Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Finally, Jefferies Group reiterated a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $163.36.
Shares of Praxair (NYSE PX) traded up $2.34 during trading hours on Friday, hitting $165.69. 1,869,982 shares of the stock traded hands, compared to its average volume of 1,930,000. Praxair has a 52 week low of $115.53 and a 52 week high of $166.95. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.91. The firm has a market cap of $47,440.00, a P/E ratio of 38.35, a PEG ratio of 2.22 and a beta of 1.00.
Praxair (NYSE:PX) last issued its earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a net margin of 10.90% and a return on equity of 26.54%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities research analysts predict that Praxair will post 6.37 earnings per share for the current fiscal year.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the sale, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Kistler Tiffany Companies LLC increased its stake in shares of Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 430 shares during the last quarter. BB&T Investment Services Inc. bought a new stake in shares of Praxair in the 2nd quarter valued at about $106,000. Cerebellum GP LLC bought a new stake in shares of Praxair in the 4th quarter valued at about $128,000. Accident Compensation Corp bought a new stake in Praxair during the 3rd quarter worth approximately $140,000. Finally, San Francisco Sentry Investment Group CA increased its stake in Praxair by 2,171.1% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 977 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.
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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.