Zacks Investment Research Lowers Linde (NYSE:LIN) to Hold

Zacks Investment Research cut shares of Linde (NYSE:LIN) from a buy rating to a hold rating in a report released on Saturday morning, Zacks.com reports.

According to Zacks, “Linde plc. is an industrial gas and engineering company. Linde plc., formerly known as Praxair Inc., is based in Guildford, UK. “

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft restated a buy rating on shares of Linde in a research report on Monday, August 3rd. UBS Group restated a buy rating on shares of Linde in a report on Thursday, August 6th. SunTrust Banks upped their price target on shares of Linde from $215.00 to $250.00 and gave the company a buy rating in a report on Friday, July 17th. JPMorgan Chase & Co. raised shares of Linde from a neutral rating to an overweight rating and raised their price target for the stock from $200.00 to $280.00 in a report on Friday, July 31st. Finally, Baader Bank restated a buy rating on shares of Linde in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Linde has an average rating of Buy and an average price target of $238.72.

LIN stock opened at $225.47 on Friday. The firm has a market cap of $118.45 billion, a P/E ratio of 53.18, a P/E/G ratio of 2.68 and a beta of 0.73. The firm’s fifty day moving average is $238.48 and its 200 day moving average is $221.93. Linde has a 52 week low of $146.71 and a 52 week high of $260.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.69 and a current ratio of 0.80.

Linde (NYSE:LIN) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.25. Linde had a net margin of 8.37% and a return on equity of 8.27%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. As a group, analysts forecast that Linde will post 7.8 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Glassman Wealth Services raised its holdings in Linde by 36.2% in the second quarter. Glassman Wealth Services now owns 158 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Magnus Financial Group LLC increased its stake in shares of Linde by 3.3% in the 2nd quarter. Magnus Financial Group LLC now owns 1,349 shares of the basic materials company’s stock worth $286,000 after acquiring an additional 43 shares in the last quarter. Sigma Planning Corp lifted its position in Linde by 3.6% during the 2nd quarter. Sigma Planning Corp now owns 1,281 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 45 shares during the period. Balentine LLC boosted its stake in Linde by 34.5% during the second quarter. Balentine LLC now owns 191 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 49 shares in the last quarter. Finally, DeDora Capital Inc. boosted its stake in Linde by 1.0% during the third quarter. DeDora Capital Inc. now owns 5,005 shares of the basic materials company’s stock worth $1,192,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 73.90% of the company’s stock.

About Linde

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.

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