Air Products & Chemicals, Inc. (NYSE:APD) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $201.97 and last traded at $199.39, with a volume of 80872 shares traded. The stock had previously closed at $196.67.
The basic materials company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.05. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the firm earned $1.71 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis.
A number of equities research analysts have recently weighed in on APD shares. Zacks Investment Research upgraded Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Tuesday, January 8th. BMO Capital Markets boosted 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. Credit Suisse Group boosted their price target on Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. KeyCorp boosted 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, Bank of America lowered 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. Two analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $196.40.
The stock has a market cap of $43.00 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 2.03.
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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