Air Products and Chemicals (NYSE:APD) Given New $260.00 Price Target at JPMorgan Chase & Co.

Air Products and Chemicals (NYSE:APD) had its target price lowered by JPMorgan Chase & Co. from $270.00 to $260.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. TheStreet downgraded Air Products and Chemicals from a b rating to a c+ rating in a report on Monday, February 5th. Bank of America raised Air Products and Chemicals from a neutral rating to a buy rating and set a $264.00 price target on the stock in a report on Thursday, February 15th. Seaport Res Ptn downgraded Air Products and Chemicals from a buy rating to a neutral rating in a report on Tuesday, February 6th. StockNews.com raised Air Products and Chemicals from a sell rating to a hold rating in a report on Monday, April 22nd. Finally, Wolfe Research started coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an outperform rating and a $279.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $277.43.

Air Products and Chemicals Trading Up 0.5 %

NYSE APD opened at $237.50 on Wednesday. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The stock has a market cap of $52.80 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.62 and a beta of 0.81. The stock’s fifty day moving average price is $237.72 and its 200-day moving average price is $254.55. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the firm posted $2.74 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that Air Products and Chemicals will post 12.38 EPS for the current fiscal year.

Institutional Trading of Air Products and Chemicals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dover Advisors LLC increased its position in Air Products and Chemicals by 1.9% in the third quarter. Dover Advisors LLC now owns 1,894 shares of the basic materials company’s stock worth $540,000 after buying an additional 35 shares in the last quarter. Smithfield Trust Co increased its position in Air Products and Chemicals by 2.4% in the third quarter. Smithfield Trust Co now owns 1,566 shares of the basic materials company’s stock worth $444,000 after buying an additional 36 shares in the last quarter. Patton Albertson Miller Group LLC increased its position in Air Products and Chemicals by 3.9% in the third quarter. Patton Albertson Miller Group LLC now owns 1,025 shares of the basic materials company’s stock worth $290,000 after buying an additional 38 shares in the last quarter. FinTrust Capital Advisors LLC increased its position in Air Products and Chemicals by 40.4% in the third quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after buying an additional 38 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in Air Products and Chemicals by 1.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,636 shares of the basic materials company’s stock worth $996,000 after buying an additional 38 shares in the last quarter. 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.