Air Products and Chemicals (NYSE:APD) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Air Products and Chemicals (NYSE:APDFree Report) in a research note published on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $355.00 price objective on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the company. Citigroup reduced their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Morgan Stanley assumed coverage on Air Products and Chemicals in a report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 target price for the company. Barclays cut their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Bank of America downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and cut their target price for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $332.41.

View Our Latest Report on APD

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $280.02 on Friday. The company has a market cap of $62.32 billion, a P/E ratio of 16.26, a P/E/G ratio of 3.07 and a beta of 0.86. The business has a fifty day simple moving average of $271.69 and a 200-day simple moving average of $293.88. Air Products and Chemicals has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company earned $2.85 EPS. The company’s revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Air Products and Chemicals will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 104.07%.

Hedge Funds Weigh In On Air Products and Chemicals

Institutional investors have recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new position in shares of Air Products and Chemicals during the first quarter worth approximately $25,000. Saudi Central Bank bought a new position in Air Products and Chemicals in the 1st quarter valued at $26,000. Generali Investments Management Co LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $26,000. Cheviot Value Management LLC bought a new stake in shares of Air Products and Chemicals during the first quarter worth $27,000. Finally, Sierra Ocean LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $30,000. Institutional investors own 81.66% of the company’s stock.

About Air Products and Chemicals

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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.

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Analyst Recommendations for Air Products and Chemicals (NYSE:APD)

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