Air Products and Chemicals, Inc. (NYSE:APD) Given Consensus Rating of “Buy” by Brokerages

Shares of Air Products and Chemicals, Inc. (NYSE:APDGet Rating) have been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $304.86.

APD has been the topic of several recent research reports. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $383.00 to $280.00 in a report on Tuesday, February 8th. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $275.00 to $255.00 in a research report on Wednesday. StockNews.com started coverage on Air Products and Chemicals in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Air Products and Chemicals from $300.00 to $272.00 in a research report on Tuesday. Finally, Barclays dropped their price target on Air Products and Chemicals from $300.00 to $275.00 in a research report on Monday, May 9th.

Several hedge funds and other institutional investors have recently modified their holdings of APD. Morgan Stanley raised its stake in shares of Air Products and Chemicals by 12.9% in the second quarter. Morgan Stanley now owns 1,941,605 shares of the basic materials company’s stock worth $558,561,000 after purchasing an additional 222,002 shares during the last quarter. EagleClaw Capital Managment LLC raised its stake in shares of Air Products and Chemicals by 6.8% in the third quarter. EagleClaw Capital Managment LLC now owns 28,260 shares of the basic materials company’s stock worth $7,238,000 after purchasing an additional 1,795 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Air Products and Chemicals by 11.4% in the third quarter. Teacher Retirement System of Texas now owns 35,359 shares of the basic materials company’s stock worth $9,056,000 after purchasing an additional 3,627 shares during the last quarter. Avidian Wealth Solutions LLC raised its stake in shares of Air Products and Chemicals by 14.2% in the third quarter. Avidian Wealth Solutions LLC now owns 2,089 shares of the basic materials company’s stock worth $535,000 after purchasing an additional 260 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Air Products and Chemicals by 84.6% in the third quarter. Orion Portfolio Solutions LLC now owns 1,388 shares of the basic materials company’s stock worth $355,000 after purchasing an additional 636 shares during the last quarter. Hedge funds and other institutional investors own 80.62% of the company’s stock.

NYSE:APD opened at $233.71 on Friday. The stock’s fifty day moving average is $239.63 and its 200 day moving average is $268.07. Air Products and Chemicals has a fifty-two week low of $216.24 and a fifty-two week high of $316.39. The firm has a market capitalization of $51.83 billion, a PE ratio of 23.28, a PEG ratio of 1.74 and a beta of 0.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.79 and a current ratio of 1.95.

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 for the quarter, beating the consensus estimate of $2.35 by $0.03. Air Products and Chemicals had a return on equity of 15.32% and a net margin of 19.63%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. Air Products and Chemicals’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts forecast that Air Products and Chemicals will post 10.27 EPS for the current year.

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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