StockNews.com Downgrades Air Products and Chemicals (NYSE:APD) to Sell

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

Other equities research analysts have also issued reports about the company. Argus lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. TD Cowen decreased their price objective on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Mizuho cut their target price on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. 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. Finally, Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $276.36.

Air Products and Chemicals Stock Down 0.2 %

Shares of NYSE:APD opened at $231.16 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The firm has a market cap of $51.39 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.55 and a beta of 0.81. The stock’s 50-day moving average price is $234.91 and its two-hundred day moving average price is $258.57. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the business posted $2.64 earnings per share. Air Products and Chemicals’s revenue was down 5.6% on a year-over-year basis. On average, research analysts forecast that Air Products and Chemicals will post 12.38 EPS for the current year.

Hedge Funds Weigh In On Air Products and Chemicals

Several large investors have recently modified their holdings of APD. Procyon Advisors LLC raised its position in shares of Air Products and Chemicals by 141.7% during the 1st quarter. Procyon Advisors LLC now owns 6,735 shares of the basic materials company’s stock valued at $1,632,000 after acquiring an additional 3,949 shares in the last quarter. First National Bank Sioux Falls bought a new stake in Air Products and Chemicals during the first quarter valued at $267,000. Viking Fund Management LLC raised its holdings in shares of Air Products and Chemicals by 35.0% during the first quarter. Viking Fund Management LLC now owns 27,000 shares of the basic materials company’s stock worth $6,541,000 after purchasing an additional 7,000 shares during the period. Exeter Financial LLC lifted its position in shares of Air Products and Chemicals by 5.0% in the 1st quarter. Exeter Financial LLC now owns 10,010 shares of the basic materials company’s stock worth $2,373,000 after buying an additional 476 shares during the last quarter. Finally, Agate Pass Investment Management LLC boosted its holdings in shares of Air Products and Chemicals by 30.3% in the 1st quarter. Agate Pass Investment Management LLC now owns 6,322 shares of the basic materials company’s stock valued at $1,532,000 after buying an additional 1,469 shares during the period. 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.