JPMorgan Chase & Co. Trims Air Products and Chemicals (NYSE:APD) Target Price to $260.00

Air Products and Chemicals (NYSE:APD) had its price objective decreased by JPMorgan Chase & Co. from $270.00 to $260.00 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

A number of other equities research analysts have also weighed in on APD. Wolfe Research began coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an outperform rating and a $279.00 price objective for the company. BMO Capital Markets decreased their price target on shares of Air Products and Chemicals from $307.00 to $250.00 and set an outperform rating for the company in a research report on Tuesday, February 6th. Wells Fargo & Company cut shares of Air Products and Chemicals from an overweight rating to an equal weight rating in a report on Monday, February 5th. TheStreet lowered shares of Air Products and Chemicals from a b rating to a c+ rating in a report on Monday, February 5th. Finally, StockNews.com upgraded shares of Air Products and Chemicals from a sell rating to a hold rating in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of Hold and a consensus price target of $277.43.

Air Products and Chemicals Stock Up 0.9 %

Shares of NYSE:APD opened at $245.87 on Wednesday. The company has a 50 day moving average of $237.96 and a two-hundred day moving average of $254.47. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $307.71. The company has a quick ratio of 1.58, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The firm had revenue of $2.93 billion for 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 was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.74 EPS. As a group, analysts forecast that Air Products and Chemicals will post 12.34 earnings per share for the current fiscal year.

Institutional Trading of Air Products and Chemicals

A number of institutional investors and hedge funds have recently made changes to their positions in APD. Capital Research Global Investors grew its stake in Air Products and Chemicals by 167.2% during the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock worth $1,894,973,000 after buying an additional 4,330,471 shares during the last quarter. Morgan Stanley grew its position in shares of Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after acquiring an additional 235,037 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Air Products and Chemicals by 1.0% in the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after acquiring an additional 39,215 shares during the period. Norges Bank bought a new stake in Air Products and Chemicals in the 4th quarter valued at about $852,288,000. Finally, Raymond James & Associates boosted its stake in Air Products and Chemicals by 8.7% during the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after purchasing an additional 167,800 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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.