Air Products and Chemicals (NYSE:APD) Rating Lowered to Equal Weight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Air Products and Chemicals (NYSE:APDGet Rating) from an overweight rating to an equal weight rating in a report issued on Wednesday morning, The Fly reports. Wells Fargo & Company currently has $255.00 target price on the basic materials company’s stock, down from their previous target price of $275.00.

Several other research firms have also issued reports on APD. StockNews.com began coverage on shares of Air Products and Chemicals in a report on Thursday, March 31st. They set a hold rating for the company. Mizuho lowered their price objective on shares of Air Products and Chemicals from $313.00 to $312.00 and set a buy rating for the company in a research note on Monday, February 7th. Cowen lowered their price objective on shares of Air Products and Chemicals from $365.00 to $345.00 in a research note on Monday, February 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Air Products and Chemicals from $300.00 to $272.00 in a research note on Tuesday. Finally, Bank of America lowered shares of Air Products and Chemicals from a buy rating to a neutral rating and lowered their price objective for the company from $337.00 to $285.00 in a research note on Monday, February 7th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of Buy and a consensus target price of $306.87.

Air Products and Chemicals stock opened at $232.89 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.28 and a current ratio of 1.95. Air Products and Chemicals has a 52-week low of $216.24 and a 52-week high of $316.39. The firm has a 50 day moving average price of $239.32 and a two-hundred day moving average price of $268.92. The firm has a market cap of $51.65 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.93 and a beta of 0.87.

Air Products and Chemicals (NYSE:APDGet Rating) last released its quarterly earnings results on Thursday, May 5th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.03. Air Products and Chemicals had a net margin of 19.63% and a return on equity of 15.32%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business earned $2.08 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts predict that Air Products and Chemicals will post 10.24 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rational Advisors LLC boosted its holdings in Air Products and Chemicals by 126.3% during the 4th quarter. Rational Advisors LLC now owns 86 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 48 shares during the last quarter. D Orazio & Associates Inc. purchased a new position in Air Products and Chemicals during the 3rd quarter worth $28,000. Arlington Partners LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth $28,000. Northwest Investment Counselors LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth $30,000. Finally, SJS Investment Consulting Inc. purchased a new position in Air Products and Chemicals during the 1st quarter worth $30,000. 80.62% of the stock is owned by institutional investors and hedge funds.

About Air Products and Chemicals (Get Rating)

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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