Air Products & Chemicals, Inc. (NYSE:APD) Given Average Rating of “Buy” by Brokerages

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Shares of Air Products & Chemicals, Inc. (NYSE:APD) have earned a consensus recommendation of “Buy” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $239.15.

APD has been the subject of a number of recent research reports. KeyCorp increased their price objective on Air Products & Chemicals from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on Air Products & Chemicals from $207.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. Morgan Stanley raised their price objective on Air Products & Chemicals from $168.00 to $230.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, HSBC downgraded Air Products & Chemicals from a “buy” rating to a “hold” rating and dropped their price objective for the company from $217.00 to $215.00 in a research note on Thursday, August 1st.

In other Air Products & Chemicals news, VP Russell A. Flugel sold 2,970 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the transaction, the vice president now owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seifi Ghasemi purchased 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the transaction, the chief executive officer now directly owns 453,783 shares of the company’s stock, valued at approximately $103,081,346.28. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in APD. Vanguard Group Inc. boosted its holdings in shares of Air Products & Chemicals by 2.1% during the second quarter. Vanguard Group Inc. now owns 19,674,476 shares of the basic materials company’s stock worth $4,453,711,000 after purchasing an additional 411,472 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Air Products & Chemicals by 2.8% during the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock worth $3,809,950,000 after purchasing an additional 454,016 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Air Products & Chemicals by 1.7% during the second quarter. Wells Fargo & Company MN now owns 4,009,741 shares of the basic materials company’s stock worth $907,685,000 after purchasing an additional 66,225 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Air Products & Chemicals by 0.3% during the second quarter. Northern Trust Corp now owns 3,271,182 shares of the basic materials company’s stock worth $740,498,000 after purchasing an additional 9,084 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Air Products & Chemicals by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock worth $421,179,000 after purchasing an additional 187,347 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Shares of NYSE APD traded up $2.42 during trading hours on Friday, reaching $228.76. The stock had a trading volume of 681,400 shares, compared to its average volume of 1,166,995. Air Products & Chemicals has a fifty-two week low of $148.44 and a fifty-two week high of $232.47. The firm has a 50-day moving average of $227.14 and a 200-day moving average of $203.36. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The firm has a market cap of $49.88 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.26 and a beta of 0.84.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.03. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the firm earned $1.95 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts predict that Air Products & Chemicals will post 8.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s payout ratio is 62.28%.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

Analyst Recommendations for Air Products & Chemicals (NYSE:APD)

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