Air Products and Chemicals (NYSE:APD) Stock Price Expected to Rise, Citigroup Analyst Says

Air Products and Chemicals (NYSE:APD) had its price target upped by investment analysts at Citigroup from $345.00 to $365.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target points to a potential upside of 17.31% from the company’s previous close.

A number of other brokerages also recently commented on APD. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price on the stock in a research report on Friday, October 25th. UBS Group raised their price target on Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $328.18.

Air Products and Chemicals Trading Down 0.9 %

Shares of APD opened at $311.13 on Monday. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $332.42. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.10 and a current ratio of 1.52. The company’s fifty day moving average is $302.27 and its 200 day moving average is $278.09. The stock has a market capitalization of $69.17 billion, a PE ratio of 18.11, a P/E/G ratio of 3.46 and a beta of 0.81.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds have recently made changes to their positions in the company. Capital Research Global Investors grew its holdings in Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after acquiring an additional 4,309,040 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after purchasing an additional 2,884,581 shares in the last quarter. National Bank of Canada FI increased its holdings in Air Products and Chemicals by 2,931.0% during the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after buying an additional 1,737,260 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Air Products and Chemicals by 127.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after buying an additional 1,564,169 shares in the last quarter. Finally, ING Groep NV lifted its holdings in Air Products and Chemicals by 240.7% during the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after buying an additional 723,019 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

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.