Air Products & Chemicals (NYSE:APD) Downgraded by HSBC

HSBC downgraded shares of Air Products & Chemicals (NYSE:APD) from a buy rating to a hold rating in a research note released on Thursday, 24/7 WallStreet reports. The brokerage currently has $215.00 price target on the basic materials company’s stock, down from their prior price target of $217.00.

APD has been the subject of several other reports. Credit Suisse Group boosted their price objective on Air Products & Chemicals from $221.00 to $238.00 and gave the company an outperform rating in a research report on Tuesday, July 23rd. Deutsche Bank upped their price target on Air Products & Chemicals from $220.00 to $250.00 and gave the stock a buy rating in a research report on Friday, July 26th. Barclays upped their price target on Air Products & Chemicals from $220.00 to $260.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Citigroup set a $260.00 price target on Air Products & Chemicals and gave the stock a buy rating in a research report on Monday, July 15th. Finally, Seaport Global Securities downgraded Air Products & Chemicals from a buy rating to a neutral rating in a report on Friday, July 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Air Products & Chemicals has a consensus rating of Buy and a consensus price target of $233.77.

Shares of APD stock opened at $222.84 on Thursday. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The company has a market cap of $49.10 billion, a PE ratio of 29.91, a PEG ratio of 2.23 and a beta of 0.84. The company has a 50-day moving average of $225.82. Air Products & Chemicals has a one year low of $148.44 and a one year high of $232.47.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.03. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the firm earned $1.95 EPS. Air Products & Chemicals’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts anticipate that Air Products & Chemicals will post 8.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, September 30th. Air Products & Chemicals’s payout ratio is 62.28%.

In other Air Products & Chemicals news, CEO Seifi Ghasemi acquired 20,000 shares of Air Products & Chemicals stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the purchase, the chief executive officer now directly owns 453,783 shares of the company’s stock, valued at approximately $103,081,346.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Russell A. Flugel sold 2,970 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total value of $614,819.70. Following the completion of the sale, the vice president now directly owns 6,387 shares in the company, valued at $1,322,172.87. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Air Products & Chemicals by 0.6% during the first quarter. Wells Fargo & Company MN now owns 3,943,516 shares of the basic materials company’s stock worth $753,054,000 after acquiring an additional 23,089 shares during the last quarter. Northern Trust Corp increased its holdings in Air Products & Chemicals by 0.7% in the first quarter. Northern Trust Corp now owns 3,262,098 shares of the basic materials company’s stock worth $622,929,000 after purchasing an additional 22,480 shares in the last quarter. Geode Capital Management LLC increased its holdings in Air Products & Chemicals by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 2,636,556 shares of the basic materials company’s stock worth $421,179,000 after purchasing an additional 187,347 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Air Products & Chemicals by 6.7% in the first quarter. Neuberger Berman Group LLC now owns 2,220,621 shares of the basic materials company’s stock worth $424,050,000 after purchasing an additional 140,293 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Air Products & Chemicals by 25.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,044,236 shares of the basic materials company’s stock worth $167,161,000 after purchasing an additional 212,479 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

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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