Air Products and Chemicals (NYSE:APD) Price Target Cut to $280.00 by Analysts at Citigroup

Air Products and Chemicals (NYSE:APD) had its target price decreased by Citigroup from $285.00 to $280.00 in a research note released on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the stock. Mizuho reduced their target price on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research note on Wednesday. StockNews.com raised shares of Air Products and Chemicals from a sell rating to a hold rating in a research note on Monday, April 22nd. Wolfe Research started coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They set an outperform rating and a $279.00 target price on the stock. Bank of America raised shares of Air Products and Chemicals from a neutral rating to a buy rating and set a $264.00 target price on the stock in a research note on Thursday, February 15th. Finally, Morgan Stanley reduced their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating on the stock in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $277.43.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $237.50 on Wednesday. The company’s 50-day moving average price is $237.72 and its 200-day moving average price is $254.55. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The company has a market cap of $52.80 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.62 and a beta of 0.81. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the firm posted $2.74 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Air Products and Chemicals will post 12.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Roble Belko & Company Inc acquired a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Sachetta LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Security National Bank acquired a new position in Air Products and Chemicals during the 4th quarter worth approximately $27,000. Finally, Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.