Air Products and Chemicals (NYSE:APD) Price Target Raised to $350.00

Air Products and Chemicals (NYSE:APD) had its price objective upped by JPMorgan Chase & Co. from $340.00 to $350.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

APD has been the subject of a number of other reports. UBS Group boosted their price target on Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their target price for the company from $295.00 to $364.00 in a research note on Monday, October 7th. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research report on Monday, October 7th. Finally, Mizuho raised their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.82.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $332.11 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $289.56 and its 200 day moving average price is $268.48. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $332.17. The stock has a market cap of $73.83 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating 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 business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. As a group, research analysts forecast that Air Products and Chemicals will post 12.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Products and Chemicals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Thompson Investment Management Inc. acquired a new stake in shares of Air Products and Chemicals in the first quarter worth $27,000. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals during the 2nd quarter worth $32,000. Hexagon Capital Partners LLC increased its holdings in Air Products and Chemicals by 2,250.0% in the 1st 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. Trifecta Capital Advisors LLC raised its position in 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 purchasing an additional 136 shares during the period. Finally, Beacon Capital Management LLC lifted its stake in shares of Air Products and Chemicals by 128.8% during the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 103 shares in 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.