Barclays Issues Positive Forecast for Air Products and Chemicals (NYSE:APD) Stock Price

Air Products and Chemicals (NYSE:APD) had its target price boosted by Barclays from $295.00 to $315.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets boosted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $327.00.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded up $0.17 during midday trading on Friday, reaching $312.99. 2,585,110 shares of the stock traded hands, compared to its average volume of 1,618,957. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $69.58 billion, a PE ratio of 27.12, a P/E/G ratio of 3.21 and a beta of 0.81. Air Products and Chemicals has a one year low of $212.24 and a one year high of $332.42. The company’s 50 day moving average is $301.56 and its 200 day moving average is $276.93.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, November 7th. The basic materials company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.19 billion. On average, equities research analysts anticipate that Air Products and Chemicals will post 12.31 earnings per share for the current year.

Institutional Investors Weigh In On Air Products and Chemicals

A number of institutional investors and hedge funds have recently modified their holdings of APD. Capital Research Global Investors grew its stake in Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after acquiring an additional 4,309,040 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after acquiring an additional 2,884,581 shares in the last quarter. National Bank of Canada FI increased its stake in Air Products and Chemicals by 2,931.0% in the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after purchasing an additional 1,737,260 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after acquiring an additional 1,564,169 shares in the last quarter. Finally, ING Groep NV grew its holdings in shares of Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after acquiring an additional 723,019 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Company Profile

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.