Air Products and Chemicals (NYSE:APD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Air Products and Chemicals (NYSE:APD) had its price objective increased by equities researchers at Wells Fargo & Company from $320.00 to $345.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 19.25% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup increased their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Morgan Stanley began coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price objective for the company. Bank of America downgraded Air Products and Chemicals from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Barclays decreased their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Finally, Royal Bank Of Canada began coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an “outperform” rating and a $355.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $333.59.

Air Products and Chemicals Trading Down 1.6%

Shares of APD stock opened at $289.32 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The firm has a market cap of $64.39 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 5.60 and a beta of 0.85. The company has a 50-day moving average of $278.81 and a two-hundred day moving average of $290.19. Air Products and Chemicals has a 1-year low of $243.69 and a 1-year high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company earned $2.85 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Air Products and Chemicals will post 12.69 EPS for the current year.

Hedge Funds Weigh In On Air Products and Chemicals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baker Avenue Asset Management LP increased its holdings in Air Products and Chemicals by 2.3% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 34 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in Air Products and Chemicals by 1.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 3,597 shares of the basic materials company’s stock worth $1,043,000 after acquiring an additional 37 shares during the period. Hamilton Capital LLC lifted its holdings in shares of Air Products and Chemicals by 1.5% in the first quarter. Hamilton Capital LLC now owns 2,594 shares of the basic materials company’s stock valued at $765,000 after buying an additional 38 shares during the period. West Branch Capital LLC lifted its holdings in shares of Air Products and Chemicals by 10.2% in the first quarter. West Branch Capital LLC now owns 421 shares of the basic materials company’s stock valued at $124,000 after buying an additional 39 shares during the period. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Air Products and Chemicals by 2.6% in the first quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company’s stock valued at $454,000 after buying an additional 39 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

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.