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

Air Products and Chemicals (NYSE:APD) had its price target boosted by analysts at Citigroup from $312.00 to $335.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Citigroup‘s price target would suggest a potential upside of 7.31% from the company’s previous close.

APD has been the topic of several other research reports. KeyCorp began coverage on Air Products and Chemicals in a report on Thursday, September 10th. They issued a “sector weight” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $320.00 price target on shares of Air Products and Chemicals in a research report on Monday, August 3rd. UBS Group lowered their price objective on shares of Air Products and Chemicals from $336.00 to $305.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Argus raised their price objective on shares of Air Products and Chemicals from $316.00 to $329.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, Royal Bank Of Canada lifted their price objective on shares of Air Products and Chemicals from $346.00 to $359.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $335.59.

Air Products and Chemicals Stock Up 2.4%

Shares of NYSE APD traded up $7.34 during trading on Monday, hitting $312.18. 342,763 shares of the company traded hands, compared to its average volume of 1,261,366. The firm has a market capitalization of $69.52 billion, a price-to-earnings ratio of 131.20, a P/E/G ratio of 2.89 and a beta of 0.67. The business’s fifty day moving average is $294.94 and its 200 day moving average is $290.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 1.07. Air Products and Chemicals has a fifty-two week low of $229.11 and a fifty-two week high of $324.00.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, November 5th. The basic materials company reported $3.61 EPS for the quarter, meeting the consensus estimate of $3.61. Air Products and Chemicals had a return on equity of 17.19% and a net margin of 4.10%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $3.39 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts predict that Air Products and Chemicals will post 14.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Air Products and Chemicals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IFG Advisory LLC boosted its holdings in Air Products and Chemicals by 5.8% during the third quarter. IFG Advisory LLC now owns 14,233 shares of the basic materials company’s stock worth $3,960,000 after purchasing an additional 775 shares during the last quarter. Bernicke Wealth Management Ltd. purchased a new stake in Air Products and Chemicals in the 3rd quarter valued at about $405,000. Vista Capital Partners Inc. bought a new position in shares of Air Products and Chemicals during the 3rd quarter worth approximately $841,000. Patrick Mauro Investment Advisor INC. lifted its position in shares of Air Products and Chemicals by 22.2% during the 3rd quarter. Patrick Mauro Investment Advisor INC. now owns 16,960 shares of the basic materials company’s stock worth $4,719,000 after buying an additional 3,078 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in shares of Air Products and Chemicals by 2.1% in the 3rd quarter. Moors & Cabot Inc. now owns 10,740 shares of the basic materials company’s stock worth $2,988,000 after buying an additional 224 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

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