Air Products and Chemicals (NYSE:APD) Price Target Raised to $275.00 at Bank of America

Air Products and Chemicals (NYSE:APD) had its price target upped by Bank of America from $272.00 to $275.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other equities research analysts have also recently commented on APD. Wolfe Research assumed coverage on Air Products and Chemicals in a research note on Friday, March 1st. They issued an outperform rating and a $279.00 target price for the company. BMO Capital Markets lowered their price objective on Air Products and Chemicals from $307.00 to $250.00 and set an outperform rating for the company in a research report on Tuesday, February 6th. Seaport Res Ptn downgraded shares of Air Products and Chemicals from a buy rating to a neutral rating in a research report on Tuesday, February 6th. Citigroup lowered their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a buy rating for the company in a research report on Wednesday. Finally, Mizuho dropped their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating for the company in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals has a consensus rating of Hold and a consensus target price of $277.43.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $245.87 on Wednesday. The firm has a market capitalization of $54.66 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.66 and a beta of 0.80. The stock has a fifty day moving average price of $238.22 and a two-hundred day moving average price of $254.19. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.74 earnings per share. As a group, analysts anticipate that Air Products and Chemicals will post 12.31 EPS for the current fiscal year.

Institutional Trading of Air Products and Chemicals

A number of 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 fourth quarter worth $27,000. Roble Belko & Company Inc acquired a new position in Air Products and Chemicals during the fourth quarter worth $27,000. Sachetta LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $27,000. Security National Bank acquired a new position in Air Products and Chemicals during the fourth quarter worth $27,000. Finally, Transcendent Capital Group LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $28,000. Institutional investors 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.