Barclays Increases Air Products & Chemicals (NYSE:APD) Price Target to $270.00

Air Products & Chemicals (NYSE:APD) had its price target boosted by Barclays from $260.00 to $270.00 in a note issued to investors on Wednesday, 24/7 WallStreet reports. The firm presently has an “overweight” rating on the basic materials company’s stock. Barclays‘s target price would suggest a potential upside of 12.07% from the stock’s previous close.

A number of other equities research analysts have also weighed in on APD. BMO Capital Markets boosted their price target on Air Products & Chemicals from $252.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Zacks Investment Research upgraded Air Products & Chemicals from a “sell” rating to a “hold” rating and set a $228.00 price target on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein lowered Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 price target on the stock. in a research note on Thursday, July 18th. HSBC lowered Air Products & Chemicals from a “buy” rating to a “hold” rating and dropped their price target for the stock from $217.00 to $215.00 in a research note on Thursday, August 1st. Finally, ValuEngine lowered Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $241.53.

APD traded up $2.74 on Wednesday, hitting $240.92. The company had a trading volume of 915,422 shares, compared to its average volume of 1,027,524. The stock has a fifty day moving average price of $218.10 and a 200-day moving average price of $219.36. Air Products & Chemicals has a 12-month low of $149.64 and a 12-month high of $241.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.32 and a current ratio of 2.54. The stock has a market capitalization of $52.34 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.04 and a beta of 0.84.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, November 7th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.02). Air Products & Chemicals had a net margin of 19.73% and a return on equity of 15.88%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the firm earned $2.00 EPS. Air Products & Chemicals’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that Air Products & Chemicals will post 9.46 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Air Products & Chemicals by 2.1% during the second quarter. Vanguard Group Inc. now owns 19,674,476 shares of the basic materials company’s stock worth $4,453,711,000 after purchasing an additional 411,472 shares during the period. BlackRock Inc. lifted its holdings in shares of Air Products & Chemicals by 2.8% during the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock worth $3,809,950,000 after purchasing an additional 454,016 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Air Products & Chemicals by 1.7% during the second quarter. Wells Fargo & Company MN now owns 4,009,741 shares of the basic materials company’s stock worth $907,685,000 after purchasing an additional 66,225 shares during the period. Northern Trust Corp lifted its holdings in shares of Air Products & Chemicals by 0.3% during the second quarter. Northern Trust Corp now owns 3,271,182 shares of the basic materials company’s stock worth $740,498,000 after purchasing an additional 9,084 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Air Products & Chemicals by 2.6% during the second quarter. Invesco Ltd. now owns 2,107,983 shares of the basic materials company’s stock worth $477,183,000 after purchasing an additional 54,289 shares during the period. 85.09% of the stock is owned by hedge funds and other institutional investors.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Analyst Recommendations for Air Products & Chemicals (NYSE:APD)

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