Citigroup Lowers Air Products and Chemicals (NYSE:APD) Price Target to $280.00

Air Products and Chemicals (NYSE:APD) had its target price lowered by Citigroup from $285.00 to $280.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

APD has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating on the stock in a report on Wednesday, February 7th. Wolfe Research initiated coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They issued an outperform rating and a $279.00 target price on the stock. TheStreet lowered shares of Air Products and Chemicals from a b rating to a c+ rating in a report on Monday, February 5th. Argus lowered shares of Air Products and Chemicals from a buy rating to a hold rating in a report on Monday, February 26th. Finally, BMO Capital Markets cut their price objective on shares of Air Products and Chemicals from $307.00 to $250.00 and set an outperform rating on the stock in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $277.43.

Air Products and Chemicals Price Performance

NYSE:APD opened at $237.50 on Wednesday. The firm has a market cap of $52.80 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81. 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 company’s 50-day moving average is $237.72 and its two-hundred day moving average is $254.55. 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 Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 18.82% and a return on equity of 16.84%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.74 EPS. Research analysts expect that Air Products and Chemicals will post 12.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APD. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Roble Belko & Company Inc purchased a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Sachetta LLC purchased a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Security National Bank purchased a new position in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Finally, Thompson Investment Management Inc. purchased a new position in Air Products and Chemicals in the first quarter valued at approximately $27,000. Hedge funds and other 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.