Air Products & Chemicals (NYSE:APD) Reaches New 1-Year High on Analyst Upgrade

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Air Products & Chemicals, Inc. (NYSE:APD) hit a new 52-week high on Thursday after Barclays raised their price target on the stock from $260.00 to $270.00. Barclays currently has an overweight rating on the stock. Air Products & Chemicals traded as high as $238.51 and last traded at $238.11, with a volume of 205925 shares changing hands. The stock had previously closed at $237.52.

APD has been the subject of a number of other reports. Susquehanna Bancshares reissued a “neutral” rating on shares of Air Products & Chemicals in a report on Monday, August 19th. BMO Capital Markets upped their price target on shares of Air Products & Chemicals from $252.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Wells Fargo & Co upped their price target on shares of Air Products & Chemicals from $240.00 to $250.00 and gave the company a “market perform” rating in a report on Friday, November 8th. UBS Group cut their price target on shares of Air Products & Chemicals from $232.00 to $230.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Credit Suisse Group upped their price target on shares of Air Products & Chemicals from $221.00 to $238.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $241.53.

A number of hedge funds have recently bought and sold shares of APD. Dorsey Wright & Associates purchased a new stake in Air Products & Chemicals during the second quarter valued at about $1,832,000. Rockland Trust Co. lifted its position in shares of Air Products & Chemicals by 27.6% in the second quarter. Rockland Trust Co. now owns 1,508 shares of the basic materials company’s stock worth $341,000 after purchasing an additional 326 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of Air Products & Chemicals by 29.0% in the second quarter. Carroll Financial Associates Inc. now owns 667 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 150 shares in the last quarter. EFG Asset Management Americas Corp. purchased a new stake in shares of Air Products & Chemicals in the second quarter worth approximately $2,907,000. Finally, Strategic Blueprint LLC lifted its position in shares of Air Products & Chemicals by 1.8% in the second quarter. Strategic Blueprint LLC now owns 7,142 shares of the basic materials company’s stock worth $1,617,000 after purchasing an additional 127 shares in the last quarter. 85.09% of the stock is owned by institutional investors.

The business’s 50-day moving average price is $218.10 and its 200-day moving average price is $219.36. The company has a quick ratio of 2.32, a current ratio of 2.54 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $52.23 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.02). The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Air Products & Chemicals had a return on equity of 15.88% and a net margin of 19.73%. Air Products & Chemicals’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $2.00 earnings per share. On average, analysts anticipate that Air Products & Chemicals, Inc. will post 9.46 EPS for the current fiscal year.

Air Products & Chemicals Company Profile (NYSE:APD)

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.

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