Linde (NASDAQ:LIN) Price Target Raised to $585.00

Linde (NASDAQ:LIN) had its price objective hoisted by equities research analysts at UBS Group from $574.00 to $585.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group‘s price objective would suggest a potential upside of 13.76% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Linde in a research report on Monday, October 5th. Berenberg Bank reissued a “buy” rating on shares of Linde in a report on Tuesday, August 4th. KeyCorp boosted their price target on Linde from $542.00 to $545.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho set a $583.00 price objective on Linde in a research report on Thursday. Finally, Royal Bank Of Canada lifted their price objective on Linde from $549.00 to $568.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.67.

Linde Stock Performance

Shares of Linde stock opened at $514.24 on Friday. The firm has a market cap of $237.05 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 3.00 and a beta of 0.71. The stock’s 50-day moving average is $483.53 and its 200-day moving average is $492.35. Linde has a one year low of $387.78 and a one year high of $548.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.86 and a quick ratio of 0.72.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Thursday, October 29th. The basic materials company reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. Linde had a return on equity of 20.32% and a net margin of 19.34%. The company had revenue of $9.40 billion during the quarter, compared to analysts’ expectations of $9.16 billion. During the same quarter in the previous year, the firm earned $4.21 EPS. Linde’s revenue was up 9.3% on a year-over-year basis. Equities analysts predict that Linde will post 17.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Linde

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JCIC Asset Management Inc. purchased a new stake in Linde during the 3rd quarter worth $26,000. Legacy Wealth Managment LLC ID lifted its position in Linde by 96.6% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 57 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 28 shares in the last quarter. Principia Wealth Advisory LLC lifted its position in Linde by 74.2% during the 2nd quarter. Principia Wealth Advisory LLC now owns 54 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 23 shares in the last quarter. Marquette Asset Management LLC purchased a new position in Linde in the 3rd quarter worth approximately $29,000. Finally, Manning & Napier Advisors LLC grew its position in Linde by 1,450.0% in the first quarter. Manning & Napier Advisors LLC now owns 62 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 58 shares in the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

About Linde

Linde plc (NASDAQ:LIN) is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde’s products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.