JPMorgan Chase & Co. Lowers Air Products and Chemicals (NYSE:APD) Price Target to $295.00

Air Products and Chemicals (NYSE:APD) had its price target cut by equities researchers at JPMorgan Chase & Co. from $310.00 to $295.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 11.75% from the stock’s previous close.

A number of other research analysts have also recently weighed in on APD. StockNews.com initiated coverage on Air Products and Chemicals in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group lifted their target price on Air Products and Chemicals from $300.00 to $310.00 and gave the company a “hold” rating in a research note on Tuesday, September 26th. Mizuho lifted their target price on Air Products and Chemicals from $330.00 to $331.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Citigroup lifted their target price on Air Products and Chemicals from $328.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, Wells Fargo & Company decreased their target price on Air Products and Chemicals from $345.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $327.00.

Air Products and Chemicals Stock Up 1.6 %

APD stock opened at $263.99 on Wednesday. Air Products and Chemicals has a twelve month low of $251.63 and a twelve month high of $328.56. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The stock has a market cap of $58.65 billion, a P/E ratio of 25.58, a PEG ratio of 1.82 and a beta of 0.86. The business’s 50-day moving average price is $286.60 and its 200-day moving average price is $287.64.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.04. Air Products and Chemicals had a return on equity of 17.02% and a net margin of 18.26%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm earned $2.89 EPS. The business’s quarterly revenue was down 10.6% on a year-over-year basis. On average, equities research analysts forecast that Air Products and Chemicals will post 12.93 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Seifi Ghasemi acquired 10,000 shares of Air Products and Chemicals stock in a transaction on Wednesday, November 8th. The shares were acquired at an average price of $252.34 per share, with a total value of $2,523,400.00. Following the purchase, the chief executive officer now directly owns 659,673 shares in the company, valued at approximately $166,461,884.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Air Products and Chemicals

Several large investors have recently modified their holdings of APD. Cibc World Market Inc. raised its holdings in Air Products and Chemicals by 6.9% during the 1st quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock valued at $295,000 after buying an additional 76 shares during the period. Prudential PLC purchased a new stake in Air Products and Chemicals during the 1st quarter valued at $1,010,000. Cetera Investment Advisers raised its holdings in Air Products and Chemicals by 22.3% during the 1st quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock valued at $1,472,000 after buying an additional 1,075 shares during the period. Baird Financial Group Inc. raised its holdings in Air Products and Chemicals by 4.4% during the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock valued at $26,459,000 after buying an additional 4,470 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Air Products and Chemicals by 17.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after buying an additional 110 shares during the period. Institutional investors own 82.62% of the company’s stock.

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; 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, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.