Air Products and Chemicals (NYSE:APD) Price Target Raised to $345.00

Air Products and Chemicals (NYSE:APD) had its price target boosted by UBS Group from $307.00 to $345.00 in a research report released on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the basic materials company’s stock.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. The Goldman Sachs Group lifted their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a research note on Monday, October 7th. Finally, Citigroup raised their price target on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average price target of $320.24.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $328.81 on Tuesday. The business’s 50-day simple moving average is $288.49 and its 200 day simple moving average is $267.87. The company has a market cap of $73.10 billion, a P/E ratio of 29.68, a PEG ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. Air Products and Chemicals has a one year low of $212.24 and a one year high of $329.03.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. On average, sell-side analysts forecast that Air Products and Chemicals will post 12.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Products and Chemicals

Several institutional investors have recently made changes to their positions in the stock. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Air Products and Chemicals by 0.3% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after purchasing an additional 34 shares during the period. CX Institutional grew its position in shares of Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock worth $400,000 after acquiring an additional 34 shares during the last quarter. Cape Investment Advisory Inc. increased its holdings in shares of Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares during the period. Exchange Traded Concepts LLC lifted its position in Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 37 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in Air Products and Chemicals by 0.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock valued at $2,814,000 after purchasing an additional 39 shares during the period. 81.66% of the stock is 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.