Praxair, Inc. (NYSE:PX) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday, June 22nd.
PX has been the subject of a number of other research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. J P Morgan Chase & Co reissued an “overweight” rating and set a $156.00 price objective (up previously from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Vertical Group upgraded shares of Praxair to a “hold” rating and lifted their target price for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Finally, Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $150.00 in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $130.77.
Shares of Praxair (PX) traded up 0.644% during trading on Thursday, reaching $133.816. The company had a trading volume of 159,684 shares. The company has a 50 day moving average of $132.66 and a 200-day moving average of $122.59. The firm has a market capitalization of $38.18 billion, a P/E ratio of 25.153 and a beta of 0.94. Praxair has a 52-week low of $111.89 and a 52-week high of $138.69.
Praxair (NYSE:PX) last released its earnings results on Thursday, April 27th. The basic materials company reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Praxair will post $5.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, June 7th were given a dividend of $0.7875 per share. The ex-dividend date was Monday, June 5th. This represents a $3.15 annualized dividend and a dividend yield of 2.37%. Praxair’s dividend payout ratio is presently 59.10%.
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Hedge funds have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. increased its position in shares of Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank boosted its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Capital Analysts LLC boosted its stake in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after buying an additional 8 shares during the last quarter. Finally, First Command Bank boosted its stake in shares of Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock worth $133,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 85.56% of the company’s stock.
Praxair Company Profile
Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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