Air Products and Chemicals (NYSE:APD) Price Target Raised to $330.00 at Wells Fargo & Company

Air Products and Chemicals (NYSE:APD) had its target price boosted by Wells Fargo & Company from $280.00 to $330.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 4.31% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Citigroup increased their price objective on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $305.00 to $365.00 in a report on Monday. Finally, Mizuho lifted their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $316.47.

Air Products and Chemicals Price Performance

APD traded up $1.75 during midday trading on Friday, hitting $316.36. 243,747 shares of the company traded hands, compared to its average volume of 1,628,659. The business has a 50 day simple moving average of $284.08 and a two-hundred day simple moving average of $265.00. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $323.86. The company has a market capitalization of $70.33 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 3.87 and a beta of 0.82. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of APD. Avantax Advisory Services Inc. boosted its holdings in shares of Air Products and Chemicals by 151.3% in the first quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock valued at $6,028,000 after acquiring an additional 14,981 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Air Products and Chemicals by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after buying an additional 2,321 shares in the last quarter. Trilogy Capital Inc. acquired a new position in Air Products and Chemicals during the first quarter worth $2,625,000. FORA Capital LLC lifted its holdings in Air Products and Chemicals by 13.0% in the first quarter. FORA Capital LLC now owns 33,823 shares of the basic materials company’s stock valued at $8,194,000 after acquiring an additional 3,881 shares during the period. Finally, Mizuho Markets Americas LLC boosted its position in shares of Air Products and Chemicals by 140.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 39,164 shares of the basic materials company’s stock worth $9,488,000 after purchasing an additional 22,850 shares in the last quarter. Institutional investors and hedge funds 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.