Barclays Forecasts Strong Price Appreciation for Air Products and Chemicals (NYSE:APD) Stock

Air Products and Chemicals (NYSE:APD) had its target price boosted by research analysts at Barclays from $295.00 to $315.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective would suggest a potential upside of 0.53% from the company’s previous close.

Several other research analysts have also recently weighed in on APD. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Mizuho increased their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a report on Friday, October 25th. Finally, Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.00.

Air Products and Chemicals Stock Performance

APD stock traded up $0.52 on Friday, reaching $313.34. The company’s stock had a trading volume of 1,539,789 shares, compared to its average volume of 1,614,170. The company has a market capitalization of $69.66 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $332.42. The firm has a fifty day moving average of $300.16 and a two-hundred day moving average of $276.13.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.19 billion. As a group, analysts predict that Air Products and Chemicals will post 12.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Air Products and Chemicals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in Air Products and Chemicals in the 2nd quarter worth $32,000. Iron Horse Wealth Management LLC grew its holdings in Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC boosted its position in shares of Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 136 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Air Products and Chemicals in the third quarter worth $42,000. Finally, Beacon Capital Management LLC boosted its holdings in Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds 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.