Air Products and Chemicals (NYSE:APD) Stock Rating Upgraded by StockNews.com

Air Products and Chemicals (NYSE:APD) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

APD has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft increased their price target on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. reduced their price objective on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Citigroup reduced their price objective on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Wolfe Research initiated coverage on Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective for the company. Finally, Bank of America increased their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of “Hold” and an average price target of $287.29.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $258.05 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a market capitalization of $57.37 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.80 and a beta of 0.84. The firm has a 50-day moving average of $259.73 and a two-hundred day moving average of $251.71.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.74 EPS. As a group, analysts expect that Air Products and Chemicals will post 12.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Products and Chemicals

Several institutional investors have recently modified their holdings of the business. Cape Investment Advisory Inc. lifted its stake in Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after acquiring an additional 37 shares in the last quarter. Keynote Financial Services LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $348,000. Maxwell Wealth Strategies Inc. increased its position in shares of Air Products and Chemicals by 0.9% during the 1st quarter. Maxwell Wealth Strategies Inc. now owns 7,942 shares of the basic materials company’s stock worth $2,069,000 after purchasing an additional 72 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $2,248,000. Finally, Soltis Investment Advisors LLC increased its position in shares of Air Products and Chemicals by 4.7% during the 1st quarter. Soltis Investment Advisors LLC now owns 26,414 shares of the basic materials company’s stock worth $6,399,000 after purchasing an additional 1,193 shares during the last quarter. 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.