Air Products & Chemicals (NYSE:APD) Price Target Cut to $230.00

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Air Products & Chemicals (NYSE:APD) had its target price cut by investment analysts at UBS Group from $232.00 to $230.00 in a research report issued on Friday, AnalystRatings.com reports. The firm presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price objective points to a potential downside of 1.65% from the company’s previous close.

Several other research firms also recently issued reports on APD. Deutsche Bank lifted their price objective on Air Products & Chemicals from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Friday. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on Air Products & Chemicals from $235.00 to $252.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Barclays boosted their price target on Air Products & Chemicals from $220.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $254.00 price target (up from $214.00) on shares of Air Products & Chemicals in a report on Friday, July 26th. Finally, Susquehanna Bancshares reiterated a “neutral” rating on shares of Air Products & Chemicals in a report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $240.13.

APD stock traded up $6.29 during midday trading on Friday, hitting $233.87. 1,800,237 shares of the company’s stock were exchanged, compared to its average volume of 1,085,902. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. Air Products & Chemicals has a 12-month low of $149.64 and a 12-month high of $234.61. The firm has a 50 day moving average price of $216.25 and a 200-day moving average price of $218.23. The stock has a market capitalization of $47.72 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.02). Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Air Products & Chemicals’s revenue for the quarter was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that Air Products & Chemicals will post 8.24 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Dorsey Wright & Associates acquired a new stake in shares of Air Products & Chemicals in the second quarter valued at $1,832,000. Rockland Trust Co. grew its stake in Air Products & Chemicals by 27.6% in the second quarter. Rockland Trust Co. now owns 1,508 shares of the basic materials company’s stock valued at $341,000 after purchasing an additional 326 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in Air Products & Chemicals by 29.0% in the second quarter. Carroll Financial Associates Inc. now owns 667 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 150 shares in the last quarter. EFG Asset Management Americas Corp. purchased a new position in Air Products & Chemicals in the second quarter valued at about $2,907,000. Finally, Strategic Blueprint LLC grew its stake in Air Products & Chemicals by 1.8% in the second quarter. Strategic Blueprint LLC now owns 7,142 shares of the basic materials company’s stock valued at $1,617,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 85.26% of the company’s stock.

Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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

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