Air Products and Chemicals (NYSE:APD) Price Target Raised to $312.00 at Bank of America

Air Products and Chemicals (NYSE:APDFree Report) had its target price hoisted by Bank of America from $275.00 to $312.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. Mizuho reduced their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating for the company in a research report on Wednesday, May 1st. Argus lowered shares of Air Products and Chemicals from a buy rating to a hold rating in a research report on Monday, February 26th. Barclays increased their target price on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an equal weight rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Air Products and Chemicals from $260.00 to $310.00 and gave the stock a buy rating in a research report on Monday. Finally, Wolfe Research initiated coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They set an outperform rating and a $279.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $287.29.

View Our Latest Report on Air Products and Chemicals

Air Products and Chemicals Price Performance

APD opened at $282.38 on Monday. The firm has a market cap of $62.78 billion, a P/E ratio of 25.49, a PEG ratio of 3.03 and a beta of 0.84. The firm has a 50-day moving average of $249.23 and a 200 day moving average of $251.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.74 earnings per share. On average, research analysts expect that Air Products and Chemicals will post 12.3 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Institutional Investors Weigh In On Air Products and Chemicals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its stake in Air Products and Chemicals by 1.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,636 shares of the basic materials company’s stock valued at $996,000 after purchasing an additional 38 shares in the last quarter. Venture Visionary Partners LLC raised its stake in shares of Air Products and Chemicals by 1.5% during the fourth quarter. Venture Visionary Partners LLC now owns 2,907 shares of the basic materials company’s stock worth $796,000 after acquiring an additional 43 shares in the last quarter. Applied Capital LLC FL raised its stake in shares of Air Products and Chemicals by 2.0% during the fourth quarter. Applied Capital LLC FL now owns 2,223 shares of the basic materials company’s stock worth $609,000 after acquiring an additional 43 shares in the last quarter. 1ST Source Bank raised its stake in shares of Air Products and Chemicals by 0.5% during the third quarter. 1ST Source Bank now owns 9,311 shares of the basic materials company’s stock worth $2,639,000 after acquiring an additional 44 shares in the last quarter. Finally, Mycio Wealth Partners LLC raised its stake in shares of Air Products and Chemicals by 0.6% during the fourth quarter. Mycio Wealth Partners LLC now owns 7,044 shares of the basic materials company’s stock worth $1,929,000 after acquiring an additional 44 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Company Profile

(Get Free Report)

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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.

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

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