Air Products and Chemicals (NYSE:APD) Price Target Raised to $315.00

Air Products and Chemicals (NYSE:APD) had its target price boosted by research analysts at Barclays from $295.00 to $315.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price target would indicate a potential upside of 0.53% from the stock’s previous close.

Several other research firms have also commented on APD. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective on the stock in a research report on Friday, October 25th. The Goldman Sachs Group boosted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. UBS Group raised their price target on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Mizuho upped their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $327.00.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock traded up $0.52 during mid-day trading on Friday, reaching $313.34. The company had a trading volume of 1,539,789 shares, compared to its average volume of 1,614,170. The stock’s 50-day simple moving average is $300.16 and its 200-day simple moving average is $276.13. Air Products and Chemicals has a 1 year low of $212.24 and a 1 year high of $332.42. 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 company has a market capitalization of $69.66 billion, a P/E ratio of 27.02, a P/E/G ratio of 3.21 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, equities analysts predict that Air Products and Chemicals will post 12.31 EPS for the current year.

Hedge Funds Weigh In On Air Products and Chemicals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Air Products and Chemicals in the 2nd quarter valued at approximately $32,000. Iron Horse Wealth Management LLC grew its stake in Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. Trifecta Capital Advisors LLC raised its stake in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Air Products and Chemicals during the 3rd quarter worth approximately $42,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 103 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other 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.