Citigroup Lowers Air Products and Chemicals (NYSE:APD) Price Target to $345.00

Air Products and Chemicals (NYSE:APD) had its target price decreased by equities research analysts at Citigroup from $373.00 to $345.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective would suggest a potential upside of 16.93% from the company’s previous close.

A number of other analysts have also weighed in on the company. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research note on Monday, January 27th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $341.47.

Air Products and Chemicals Trading Up 0.6 %

Shares of APD stock opened at $295.04 on Tuesday. Air Products and Chemicals has a 52-week low of $227.53 and a 52-week high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The firm has a market capitalization of $65.64 billion, a PE ratio of 17.13, a PEG ratio of 3.07 and a beta of 0.85. The stock has a fifty day simple moving average of $312.51 and a two-hundred day simple moving average of $308.91.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, analysts predict that Air Products and Chemicals will post 12.69 EPS for the current fiscal year.

Insider Transactions at Air Products and Chemicals

In related news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the transaction, the vice president now owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now directly owns 719 shares in the company, valued at $221,811.50. This trade represents a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 over the last three months. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Air Products and Chemicals

Hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in Air Products and Chemicals by 1.8% during the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock valued at $505,000 after purchasing an additional 31 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Air Products and Chemicals by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock valued at $588,000 after buying an additional 31 shares during the last quarter. WR Wealth Planners LLC grew its stake in shares of Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Silver Oak Securities Incorporated increased its position in shares of Air Products and Chemicals by 1.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after acquiring an additional 32 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Air Products and Chemicals by 3.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock worth $282,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 81.66% 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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.