Air Products & Chemicals (NYSE:APD) Now Covered by Analysts at Atlantic Securities

Atlantic Securities started coverage on shares of Air Products & Chemicals (NYSE:APD) in a research note published on Monday, Briefing.com Automated Import reports. The brokerage issued a neutral rating and a $250.00 price objective on the basic materials company’s stock.

APD has been the topic of several other research reports. HSBC lowered shares of Air Products & Chemicals from a buy rating to a hold rating and dropped their price objective for the stock from $217.00 to $215.00 in a research note on Thursday, August 1st. Monness Crespi & Hardt reissued a buy rating and set a $254.00 price objective (up previously from $214.00) on shares of Air Products & Chemicals in a research note on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of Air Products & Chemicals from $252.00 to $260.00 and gave the stock an outperform rating in a research note on Monday, November 11th. Barclays boosted their price objective on shares of Air Products & Chemicals from $260.00 to $270.00 and gave the stock an overweight rating in a research note on Wednesday, November 13th. Finally, ValuEngine lowered shares of Air Products & Chemicals from a buy rating to a hold rating in a research note on Tuesday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $242.06.

NYSE:APD traded up $0.12 during mid-day trading on Monday, hitting $241.31. 816,233 shares of the company’s stock were exchanged, compared to its average volume of 1,084,662. Air Products & Chemicals has a one year low of $149.64 and a one year high of $241.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.54 and a quick ratio of 2.32. The business has a fifty day moving average price of $219.25 and a 200 day moving average price of $219.93. The company has a market cap of $53.09 billion, a PE ratio of 29.39, a P/E/G ratio of 2.07 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 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.02). Air Products & Chemicals had a return on equity of 15.88% and a net margin of 19.73%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the firm earned $2.00 EPS. The company’s revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Air Products & Chemicals will post 9.46 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of APD. Nuveen Asset Management LLC lifted its stake in shares of Air Products & Chemicals by 19,995.0% in the second quarter. Nuveen Asset Management LLC now owns 1,127,733 shares of the basic materials company’s stock worth $255,285,000 after buying an additional 1,122,121 shares in the last quarter. BlackRock Inc. lifted its position in Air Products & Chemicals by 2.8% during the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock valued at $3,809,950,000 after purchasing an additional 454,016 shares during the period. Vanguard Group Inc. lifted its position in Air Products & Chemicals by 2.1% during the second quarter. Vanguard Group Inc. now owns 19,674,476 shares of the basic materials company’s stock valued at $4,453,711,000 after purchasing an additional 411,472 shares during the period. Bahl & Gaynor Inc. lifted its position in Air Products & Chemicals by 18.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,557,160 shares of the basic materials company’s stock valued at $352,494,000 after purchasing an additional 244,100 shares during the period. Finally, First Trust Advisors LP lifted its position in Air Products & Chemicals by 71.7% during the second quarter. First Trust Advisors LP now owns 527,192 shares of the basic materials company’s stock valued at $119,340,000 after purchasing an additional 220,088 shares during the period. Hedge funds and other institutional investors own 84.26% of the company’s stock.

About Air Products & Chemicals

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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