Air Products and Chemicals (NYSE:APD) PT Raised to $330.00 at Wells Fargo & Company

Air Products and Chemicals (NYSE:APD) had its price target boosted by research analysts at Wells Fargo & Company from $280.00 to $330.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 4.21% from the company’s previous close.

Several other research analysts have also weighed in on APD. Citigroup raised their price objective on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a report on Monday, October 7th. The Goldman Sachs Group lifted their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $305.00 to $365.00 in a report on Monday, October 7th. Finally, Barclays lifted their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus target price of $316.47.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $316.66 on Friday. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $323.86. The company has a market capitalization of $70.40 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The firm’s fifty day moving average price is $284.78 and its 200 day moving average price is $265.74.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. On average, research analysts forecast that Air Products and Chemicals will post 12.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APD. Thompson Investment Management Inc. purchased a new position in Air Products and Chemicals during the first quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals during the second quarter valued at approximately $32,000. Hexagon Capital Partners LLC grew its position in Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 135 shares in the last quarter. Finally, Trifecta Capital Advisors LLC grew its position in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

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.