Citigroup Increases Air Products and Chemicals (NYSE:APD) Price Target to $345.00

Air Products and Chemicals (NYSE:APD) had its price objective upped by equities researchers at Citigroup from $330.00 to $345.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s target price suggests a potential upside of 11.16% from the stock’s current price.

Several other analysts also recently issued reports on APD. BMO Capital Markets lifted their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $295.00 to $364.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.18.

Air Products and Chemicals Trading Down 0.7 %

Shares of APD stock opened at $310.36 on Monday. The business has a 50-day moving average of $281.61 and a 200 day moving average of $263.79. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $313.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $68.99 billion, a PE ratio of 28.01, a P/E/G ratio of 3.89 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, sell-side analysts anticipate that Air Products and Chemicals will post 12.33 earnings per share for the current year.

Institutional Trading of Air Products and Chemicals

Large investors have recently added to or reduced their stakes in the business. Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals in the 1st quarter valued at $27,000. Transcendent Capital Group LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $28,000. Meeder Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at about $32,000. Hexagon Capital Partners LLC grew its holdings in shares of Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. Finally, Trifecta Capital Advisors LLC raised its holdings in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares during the period. 81.66% of the stock is 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.