Deutsche Bank Boosts Air Products & Chemicals (NYSE:APD) Price Target to $260.00

Air Products & Chemicals (NYSE:APD) had its target price increased by Deutsche Bank from $250.00 to $260.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a buy rating on the basic materials company’s stock. The analysts noted that the move was a valuation call.

APD has been the subject of several other research reports. Zacks Investment Research raised Air Products & Chemicals from a sell rating to a hold rating and set a $228.00 price objective for the company in a research note on Thursday, October 31st. Morgan Stanley upped their price objective on Air Products & Chemicals from $168.00 to $230.00 and gave the company an equal weight rating in a research note on Monday, August 12th. HSBC downgraded Air Products & Chemicals from a buy rating to a hold rating and lowered their price objective for the company from $217.00 to $215.00 in a research note on Thursday, August 1st. Monness Crespi & Hardt reaffirmed a buy rating and issued a $254.00 price objective (up previously from $214.00) on shares of Air Products & Chemicals in a research note on Friday, July 26th. Finally, ValuEngine downgraded 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. Air Products & Chemicals currently has a consensus rating of Hold and an average price target of $240.13.

NYSE APD traded up $1.16 during trading on Friday, hitting $235.03. 908,024 shares of the company’s stock were exchanged, compared to its average volume of 1,085,085. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The company has a market cap of $47.72 billion, a PE ratio of 31.55, a P/E/G ratio of 1.91 and a beta of 0.84. Air Products & Chemicals has a fifty-two week low of $149.64 and a fifty-two week high of $235.49. The stock’s 50 day moving average price is $216.74 and its two-hundred day moving average price is $218.60.

Air Products & Chemicals (NYSE:APD) last issued its earnings results on Thursday, November 7th. The basic materials company reported $2.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.29 by ($0.02). The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 EPS. Analysts forecast that Air Products & Chemicals will post 8.24 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Krane Funds Advisors LLC bought a new stake in Air Products & Chemicals in the second quarter valued at approximately $26,000. Lenox Wealth Advisors LLC bought a new stake in Air Products & Chemicals in the third quarter valued at approximately $27,000. Squar Milner Financial Services LLC boosted its holdings in Air Products & Chemicals by 87.1% in the second quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 61 shares during the last quarter. Assetmark Inc. boosted its holdings in Air Products & Chemicals by 163.0% in the second quarter. Assetmark Inc. now owns 142 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 88 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in Air Products & Chemicals in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 85.26% of the company’s stock.

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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The Fly

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

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