Linde Ag Spon (LNEGY) Cut to “Hold” at Zacks Investment Research

Linde Ag Spon (NASDAQ:LNEGY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “The Linde Group is an engineering company which supplies industrial, process and specialty gases worldwide. The Company’s core operating segments consist of the gases and engineering division. The main gases produced by the Company are acetylene, carbon dioxide, nitrogen, hydrogen, shielding gases for welding applications, noble gases, calibration gas mixtures, high-purity gases and gas mixtures. It also supplies welding and safety products. Lindes’s pharmaceutical and medical gas products and services find their use in clinical care, emergency care, and ventilation therapy and hospital infrastructure. The engineering division focuses on plant engineering for the production of hydrogen and synthesis gas, oxygen and olefins as well as plants for natural gas treatment. The Company’s non core division the gist division operates in a wide range of commercial and industrial sectors including grocery, retail, electronics and gas. . The Linde Group is headquartered in Munich, Germany. “

Separately, HSBC Holdings plc upgraded Linde Ag Spon from a “hold” rating to a “buy” rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $22.00.

Shares of Linde Ag Spon (NASDAQ LNEGY) opened at 19.17 on Tuesday. The company has a 50-day moving average price of $19.09 and a 200 day moving average price of $17.22. Linde Ag Spon has a 1-year low of $13.27 and a 1-year high of $20.16. The company has a market capitalization of $35.59 billion and a P/E ratio of 27.35.

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