Air Products and Chemicals (NYSE:APD) Upgraded by StockNews.com to “Hold”

Air Products and Chemicals (NYSE:APD) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Several other brokerages have also recently commented on APD. Wolfe Research initiated coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target on the stock. JPMorgan Chase & Co. cut their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Morgan Stanley lifted their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. BMO Capital Markets increased their price objective on Air Products and Chemicals from $276.00 to $294.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Finally, Citigroup decreased their target price on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $287.29.

Air Products and Chemicals Trading Down 1.0 %

Shares of NYSE:APD opened at $272.06 on Friday. The company has a 50 day moving average of $255.51 and a 200-day moving average of $251.86. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The firm has a market cap of $60.48 billion, a P/E ratio of 24.55, a P/E/G ratio of 2.98 and a beta of 0.84. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of APD. Keynote Financial Services LLC acquired a new stake in Air Products and Chemicals in the 1st quarter worth approximately $348,000. Maxwell Wealth Strategies Inc. lifted its stake in shares of Air Products and Chemicals by 0.9% in the first quarter. Maxwell Wealth Strategies Inc. now owns 7,942 shares of the basic materials company’s stock worth $2,069,000 after buying an additional 72 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Air Products and Chemicals during the 1st quarter worth $2,248,000. Soltis Investment Advisors LLC grew its stake in Air Products and Chemicals by 4.7% in the 1st quarter. Soltis Investment Advisors LLC now owns 26,414 shares of the basic materials company’s stock valued at $6,399,000 after buying an additional 1,193 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its position in Air Products and Chemicals by 9.4% during the 1st quarter. Cetera Advisor Networks LLC now owns 87,073 shares of the basic materials company’s stock worth $21,095,000 after acquiring an additional 7,511 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Company Profile

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.