Argus upgraded shares of Praxair, Inc. (NYSE:PX) from a hold rating to a buy rating in a research note released on Monday morning, Marketbeat reports. The brokerage currently has $171.00 price objective on the basic materials company’s stock.
PX has been the topic of several other reports. Zacks Investment Research downgraded Praxair from a hold rating to a sell rating in a research report on Friday, October 20th. SunTrust Banks, Inc. reissued a buy rating and issued a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. BidaskClub downgraded Praxair from a buy rating to a hold rating in a research report on Tuesday, July 25th. Citigroup Inc. raised Praxair from a neutral rating to a buy rating and upped their target price for the company from $137.00 to $168.00 in a research report on Monday, October 30th. Finally, Susquehanna Bancshares Inc upped their target price on Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $151.36.
Shares of Praxair (NYSE:PX) traded up $2.87 during mid-day trading on Monday, hitting $149.04. The stock had a trading volume of 1,779,800 shares, compared to its average volume of 1,301,740. The firm has a market capitalization of $43,180.00, a P/E ratio of 25.47, a PEG ratio of 2.18 and a beta of 0.99. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair has a 1-year low of $115.00 and a 1-year high of $150.25.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. sell-side analysts forecast that Praxair will post 5.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Kistler Tiffany Companies LLC boosted its stake in shares of Praxair by 149.8% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 430 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 123 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Praxair during the 2nd quarter worth about $106,000. Exane Derivatives purchased a new stake in shares of Praxair during the 2nd quarter worth about $109,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Praxair by 3.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 31 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with our FREE daily email newsletter.