Praxair, Inc. (NYSE:PX) Rating Lowered to Buy at BidaskClub

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.

Analyst Recommendations for Praxair (NYSE:PX)

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