Air Products and Chemicals (NYSE:APD) Cut to “Sell” at StockNews.com

Air Products and Chemicals (NYSE:APD) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets raised their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays increased their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Morgan Stanley upped their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. The Goldman Sachs Group boosted their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $297.40.

Air Products and Chemicals Price Performance

Shares of APD stock traded down $4.84 during midday trading on Friday, reaching $268.71. 1,066,145 shares of the company were exchanged, compared to its average volume of 1,647,773. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $59.74 billion, a P/E ratio of 24.25, a PEG ratio of 3.72 and a beta of 0.81. The company’s 50 day moving average price is $268.38 and its two-hundred day moving average price is $255.98.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.16. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, sell-side analysts expect that Air Products and Chemicals will post 12.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Cape Investment Advisory Inc. boosted its position in Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after purchasing an additional 37 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in Air Products and Chemicals by 0.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock valued at $2,814,000 after acquiring an additional 39 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Air Products and Chemicals by 2.3% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock worth $455,000 after purchasing an additional 39 shares in the last quarter. Stokes Family Office LLC boosted its holdings in shares of Air Products and Chemicals by 3.4% during the 2nd quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 40 shares during the last quarter. Finally, Invesco LLC increased its holdings in shares of Air Products and Chemicals by 2.6% in the second quarter. Invesco LLC now owns 1,581 shares of the basic materials company’s stock valued at $408,000 after purchasing an additional 40 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

About Air Products and Chemicals

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.