Credit Suisse Group Raises Air Products & Chemicals (APD) Price Target to $222.00

Air Products & Chemicals (NYSE:APD) had its price objective increased by Credit Suisse Group from $200.00 to $222.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the basic materials company’s stock.

APD has been the topic of a number of other reports. Bank of America downgraded Air Products & Chemicals from a neutral rating to an underperform rating and set a $170.00 price target on the stock. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded Air Products & Chemicals from a buy rating to a hold rating in a research note on Wednesday, January 16th. KeyCorp raised their price target on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Finally, BMO Capital Markets raised their price target on Air Products & Chemicals from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating and eleven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $196.40.

Shares of APD opened at $198.10 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 2.03 and a debt-to-equity ratio of 0.30. Air Products & Chemicals has a 12 month low of $148.44 and a 12 month high of $198.66. The firm has a market cap of $43.51 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82.

Air Products & Chemicals (NYSE:APD) last issued its earnings results on Friday, January 25th. The basic materials company reported $1.86 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.01). Air Products & Chemicals had a net margin of 18.92% and a return on equity of 15.13%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business posted $1.79 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts expect that Air Products & Chemicals will post 8.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be paid a $1.16 dividend. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $1.10. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Friday, March 29th. Air Products & Chemicals’s dividend payout ratio (DPR) is 62.28%.

Hedge funds have recently added to or reduced their stakes in the company. BLB&B Advisors LLC lifted its position in Air Products & Chemicals by 11.0% during the first quarter. BLB&B Advisors LLC now owns 4,795 shares of the basic materials company’s stock valued at $916,000 after purchasing an additional 475 shares in the last quarter. Sanders Morris Harris LLC lifted its position in Air Products & Chemicals by 26.4% during the first quarter. Sanders Morris Harris LLC now owns 1,722 shares of the basic materials company’s stock valued at $329,000 after purchasing an additional 360 shares in the last quarter. Mycio Wealth Partners LLC lifted its position in Air Products & Chemicals by 2.5% during the first quarter. Mycio Wealth Partners LLC now owns 265,944 shares of the basic materials company’s stock valued at $50,785,000 after purchasing an additional 6,528 shares in the last quarter. Eastern Bank lifted its position in Air Products & Chemicals by 76.5% during the first quarter. Eastern Bank now owns 87,342 shares of the basic materials company’s stock valued at $16,678,000 after purchasing an additional 37,844 shares in the last quarter. Finally, Bfsg LLC purchased a new position in Air Products & Chemicals during the first quarter valued at $605,000. Hedge funds and other institutional investors own 87.52% of the company’s stock.

Air Products & Chemicals Company Profile

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

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