Air Products and Chemicals (NYSE:APD) Price Target Raised to $320.00 at TD Cowen

Air Products and Chemicals (NYSE:APD) had its price target hoisted by TD Cowen from $305.00 to $320.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

APD has been the topic of several other reports. TheStreet cut shares of Air Products and Chemicals from a b rating to a c+ rating in a research report on Monday, February 5th. Citigroup lowered their price objective on shares of Air Products and Chemicals from $285.00 to $280.00 and set a buy rating on the stock in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. StockNews.com upgraded shares of Air Products and Chemicals from a sell rating to a hold rating in a research report on Monday, April 22nd. Finally, Mizuho lowered their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $277.43.

Air Products and Chemicals Price Performance

NYSE APD opened at $237.50 on Wednesday. The stock has a market capitalization of $52.80 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.62 and a beta of 0.81. Air Products and Chemicals has a 1 year low of $212.24 and a 1 year high of $307.71. The business’s fifty day moving average is $237.72 and its two-hundred day moving average is $254.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.74 earnings per share. On average, research analysts forecast that Air Products and Chemicals will post 12.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Air Products and Chemicals

A number of large investors have recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in Air Products and Chemicals by 167.2% in the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after purchasing an additional 4,330,471 shares in the last quarter. Morgan Stanley boosted its holdings in Air Products and Chemicals by 4.6% in the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after purchasing an additional 235,037 shares in the last quarter. Northern Trust Corp lifted its position in Air Products and Chemicals by 1.0% during the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after acquiring an additional 39,215 shares during the last quarter. Norges Bank acquired a new position in Air Products and Chemicals during the 4th quarter worth $852,288,000. Finally, Raymond James & Associates lifted its position in Air Products and Chemicals by 8.7% during the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock worth $508,626,000 after acquiring an additional 167,800 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.