Air Products and Chemicals (NYSE:APD) Given New $263.00 Price Target at BMO Capital Markets

Air Products and Chemicals (NYSE:APD) had its target price lifted by BMO Capital Markets from $250.00 to $263.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other analysts have also commented on the stock. Bank of America upped their price objective on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the company a buy rating in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating for the company in a research report on Wednesday, February 7th. 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. TD Cowen reduced their target price on Air Products and Chemicals from $345.00 to $305.00 and set an outperform rating for the company in a report on Friday, February 16th. Finally, StockNews.com raised Air Products and Chemicals from a sell rating to a hold rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $277.43.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $237.50 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $237.72 and its two-hundred day moving average price is $254.55. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $307.71. The stock has a market cap of $52.80 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81.

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

Institutional Investors Weigh In On Air Products and Chemicals

A number of hedge funds and other institutional investors have recently made changes to their positions in APD. Vicus Capital purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter worth about $222,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Air Products and Chemicals by 2.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,884 shares of the basic materials company’s stock valued at $9,886,000 after acquiring an additional 939 shares in the last quarter. FinTrust Capital Advisors LLC raised its stake in shares of Air Products and Chemicals by 40.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 38 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Air Products and Chemicals by 4.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 30,988 shares of the basic materials company’s stock valued at $8,782,000 after acquiring an additional 1,348 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC raised its stake in shares of Air Products and Chemicals by 9.6% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 801 shares of the basic materials company’s stock valued at $227,000 after acquiring an additional 70 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

About Air Products and Chemicals

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.