Air Products and Chemicals (NYSE:APD) Price Target Raised to $325.00

Air Products and Chemicals (NYSE:APD) had its target price boosted by Mizuho from $310.00 to $325.00 in a research report released on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the basic materials company’s stock.

APD has been the subject of a number of other reports. UBS Group increased their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Barclays dropped their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada assumed coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an “outperform” rating and a $355.00 price target on the stock. Morgan Stanley started coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price objective on the stock. Finally, Citigroup lifted their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a “buy” rating in a report on Monday, June 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Price Performance

APD stock opened at $293.66 on Tuesday. The company has a market capitalization of $65.35 billion, a P/E ratio of 42.68, a price-to-earnings-growth ratio of 5.54 and a beta of 0.85. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. Air Products and Chemicals has a 52-week low of $243.69 and a 52-week high of $341.14. The business has a 50-day simple moving average of $280.54 and a two-hundred day simple moving average of $290.18.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.85 EPS. Research analysts expect that Air Products and Chemicals will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.44%. Air Products and Chemicals’s dividend payout ratio is currently 104.07%.

Institutional Trading of Air Products and Chemicals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wayfinding Financial LLC acquired a new position in Air Products and Chemicals in the 1st quarter valued at $25,000. Generali Investments Management Co LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $26,000. Saudi Central Bank purchased a new position in Air Products and Chemicals in the 1st quarter valued at about $26,000. Cheviot Value Management LLC purchased a new position in shares of Air Products and Chemicals during the 1st quarter worth about $27,000. Finally, Citizens National Bank Trust Department lifted its holdings in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.