Air Products and Chemicals (NYSE:APD) Given New $280.00 Price Target at Citigroup

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

Other research analysts also recently issued research reports about the company. Barclays reduced their price target on Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating on the stock in a report on Tuesday, February 6th. UBS Group lowered shares of Air Products and Chemicals from a buy rating to a neutral rating and cut their target price for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. BMO Capital Markets decreased their price target on shares of Air Products and Chemicals from $307.00 to $250.00 and set an outperform rating for the company in a research note on Tuesday, February 6th. Wolfe Research assumed coverage on Air Products and Chemicals in a research report on Friday, March 1st. They set an outperform rating and a $279.00 price objective on the stock. Finally, Seaport Res Ptn downgraded Air Products and Chemicals from a buy rating to a neutral rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of Hold and an average price target of $277.43.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $245.87 on Wednesday. The stock has a market capitalization of $54.66 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58. The business’s 50 day simple moving average is $238.22 and its two-hundred day simple moving average is $254.19.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.74 EPS. Analysts forecast that Air Products and Chemicals will post 12.31 EPS for the current year.

Hedge Funds Weigh In On Air Products and Chemicals

A number of hedge funds have recently bought and sold shares of the company. SPC Financial Inc. lifted its stake in shares of Air Products and Chemicals by 30.6% in the first quarter. SPC Financial Inc. now owns 1,957 shares of the basic materials company’s stock worth $474,000 after buying an additional 458 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in Air Products and Chemicals by 268.2% in the 1st quarter. McClarren Financial Advisors Inc. now owns 243 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 177 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Air Products and Chemicals by 41.3% in the 1st quarter. DAVENPORT & Co LLC now owns 627,519 shares of the basic materials company’s stock valued at $152,219,000 after acquiring an additional 183,461 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in Air Products and Chemicals during the 1st quarter valued at $229,000. Finally, Avidian Wealth Solutions LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth $204,000. 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.