Praxair, Inc. (NYSE:PX) Stock Rating Upgraded by Susquehanna Bancshares Inc

Praxair, Inc. (NYSE:PX) was upgraded by equities research analysts at Susquehanna Bancshares Inc from a “neutral” rating to a “positive” rating in a report released on Thursday, September 7th, MarketBeat.com reports. The brokerage currently has a $155.00 price target on the basic materials company’s stock, up from their previous price target of $131.00. Susquehanna Bancshares Inc’s price objective indicates a potential upside of 15.48% from the stock’s previous close.

Other equities analysts have also issued reports about the company. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Wednesday, June 21st. Bank of America Corporation upgraded Praxair from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $150.00 in a research note on Wednesday, June 7th. Zacks Investment Research upgraded Praxair from a “sell” rating to a “buy” rating and set a $148.00 target price for the company in a research note on Monday, July 31st. Finally, Vertical Group upgraded Praxair to a “hold” rating and upped their target price for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $138.00.

Praxair (NYSE:PX) opened at 134.22 on Thursday. Praxair has a 12-month low of $114.43 and a 12-month high of $138.69. The stock’s 50 day moving average price is $131.52 and its 200-day moving average price is $128.05. The stock has a market capitalization of $38.39 billion, a PE ratio of 25.13 and a beta of 0.93.

Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 earnings per share. Analysts expect that Praxair will post $5.47 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of PX. Sandy Spring Bank boosted its position 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 period. Parallel Advisors LLC boosted its position in shares of Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after buying an additional 123 shares during the period. BB&T Investment Services Inc. purchased a new stake in shares of Praxair in the second quarter worth about $106,000. Exane Derivatives purchased a new stake in shares of Praxair in the second quarter worth about $109,000. Finally, Tortoise Investment Management LLC boosted its position in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after buying an additional 31 shares during the period. 85.33% of the stock is owned by institutional investors.

About Praxair

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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