Air Products and Chemicals (NYSE:APD) Rating Increased to Outperform at Evercore ISI

Air Products and Chemicals (NYSE:APD) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a report released on Monday, Marketbeat reports. The brokerage currently has a $365.00 price target on the basic materials company’s stock, up from their prior price target of $305.00. Evercore ISI’s price target would suggest a potential upside of 17.61% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Barclays increased their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the stock from $295.00 to $364.00 in a research note on Monday. Bank of America upped their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Citigroup raised their target price on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, The Goldman Sachs Group increased their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $309.18.

Air Products and Chemicals Trading Down 0.7 %

Shares of APD opened at $310.36 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $68.99 billion, a P/E ratio of 28.01, a P/E/G ratio of 3.89 and a beta of 0.82. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $313.00. The business’s 50-day moving average price is $281.61 and its 200 day moving average price is $263.79.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Analysts expect that Air Products and Chemicals will post 12.33 earnings per share for the current year.

Institutional Trading of Air Products and Chemicals

Several hedge funds have recently added to or reduced their stakes in APD. Thompson Investment Management Inc. bought a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in Air Products and Chemicals in the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals in the 2nd quarter worth $32,000. Hexagon Capital Partners LLC boosted its stake in Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after buying an additional 135 shares during the last quarter. Finally, Trifecta Capital Advisors LLC grew its holdings in shares of Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares in the last quarter. 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.