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

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

A number of other analysts have also issued reports on the company. Bank of America lifted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. TD Cowen upped their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Mizuho reduced their target price on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Citigroup lowered their price target on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Morgan Stanley increased their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $287.29.

Air Products and Chemicals Trading Down 2.0 %

Shares of NYSE:APD opened at $257.74 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $307.71. The stock has a market cap of $57.30 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.86 and a beta of 0.84. The business has a 50-day moving average price of $259.73 and a 200-day moving average price of $251.94.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. The company 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.74 earnings per share. Equities analysts predict that Air Products and Chemicals will post 12.3 EPS for the current year.

Hedge Funds Weigh In On Air Products and Chemicals

A number of institutional investors have recently made changes to their positions in APD. Cape Investment Advisory Inc. increased its holdings in shares of Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after acquiring an additional 37 shares during the last quarter. Keynote Financial Services LLC acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $348,000. Maxwell Wealth Strategies Inc. grew its holdings in shares of Air Products and Chemicals by 0.9% during the first quarter. Maxwell Wealth Strategies Inc. now owns 7,942 shares of the basic materials company’s stock valued at $2,069,000 after purchasing an additional 72 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Air Products and Chemicals during the 1st quarter worth approximately $2,248,000. Finally, Soltis Investment Advisors LLC lifted its holdings in shares of 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 worth $6,399,000 after purchasing an additional 1,193 shares during the last quarter. 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.