Air Products and Chemicals (NYSE:APD) Given New $286.00 Price Target at Mizuho

Air Products and Chemicals (NYSE:APD) had its price target reduced by Mizuho from $295.00 to $286.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

A number of other research firms also recently commented on APD. TheStreet downgraded Air Products and Chemicals from a b rating to a c+ rating in a report on Monday, February 5th. Barclays lowered their target price on shares of Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating on the stock in a research report on Tuesday, February 6th. Bank of America raised Air Products and Chemicals from a neutral rating to a buy rating and set a $264.00 price objective for the company in a research note on Thursday, February 15th. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $295.00 to $270.00 and set an overweight rating on the stock in a research report on Tuesday, February 6th. Finally, Seaport Res Ptn cut Air Products and Chemicals from a buy rating to a neutral rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $277.43.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $245.87 on Wednesday. The firm’s fifty day simple moving average is $238.22 and its 200-day simple moving average is $254.19. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The stock has a market capitalization of $54.66 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the business posted $2.74 earnings per share. Air Products and Chemicals’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that Air Products and Chemicals will post 12.31 earnings per share for the current year.

Institutional Trading of Air Products and Chemicals

A number of hedge funds have recently added to or reduced their stakes in APD. Capital Research Global Investors increased its position in Air Products and Chemicals by 167.2% during 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 during the last quarter. Morgan Stanley grew its stake in shares of Air Products and Chemicals by 4.6% during the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after buying an additional 235,037 shares during the period. Northern Trust Corp increased its holdings in shares of 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 buying an additional 39,215 shares during the last quarter. Norges Bank purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth $852,288,000. Finally, Raymond James & Associates boosted its holdings in Air Products and Chemicals by 8.7% in the first quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after acquiring an additional 167,800 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

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.