Deutsche Bank Boosts Air Products & Chemicals (NYSE:APD) Price Target to $260.00

Air Products & Chemicals (NYSE:APD) had its target price raised by investment analysts at Deutsche Bank from $250.00 to $260.00 in a research report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank’s price target suggests a potential upside of 11.17% from the company’s current price. The analysts noted that the move was a valuation call.

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Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Morgan Stanley increased their price objective on shares of Air Products & Chemicals from $168.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. BMO Capital Markets increased their price objective on shares of Air Products & Chemicals from $235.00 to $252.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Monness Crespi & Hardt reiterated a “buy” rating and set a $254.00 price objective (up previously from $214.00) on shares of Air Products & Chemicals in a research report on Friday, July 26th. Finally, HSBC lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $217.00 to $215.00 in a research report on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $240.13.

Shares of APD traded up $6.29 during mid-day trading on Friday, reaching $233.87. The stock had a trading volume of 1,800,237 shares, compared to its average volume of 1,085,902. The firm has a market cap of $47.72 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.91 and a beta of 0.84. Air Products & Chemicals has a 12 month low of $149.64 and a 12 month high of $234.61. The business has a fifty day moving average of $216.25 and a 200 day moving average of $218.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $2.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.29 by ($0.02). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 earnings per share. On average, research analysts forecast that Air Products & Chemicals will post 8.24 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bailard Inc. increased its position in Air Products & Chemicals by 2.0% during the 2nd quarter. Bailard Inc. now owns 2,347 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 45 shares during the period. First Allied Advisory Services Inc. raised its position in Air Products & Chemicals by 2.3% during the 3rd quarter. First Allied Advisory Services Inc. now owns 2,010 shares of the basic materials company’s stock worth $449,000 after buying an additional 46 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its position in Air Products & Chemicals by 3.2% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,549 shares of the basic materials company’s stock worth $351,000 after buying an additional 48 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its position in Air Products & Chemicals by 1.7% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 2,945 shares of the basic materials company’s stock worth $653,000 after buying an additional 48 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in Air Products & Chemicals by 1.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,090 shares of the basic materials company’s stock worth $686,000 after buying an additional 50 shares during the last quarter. 85.26% of the stock is currently owned by institutional investors and hedge funds.

About Air Products & Chemicals

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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