Praxair, Inc. (PX) Given Average Rating of “Hold” by Brokerages
Shares of Praxair, Inc. (NYSE:PX) have received a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $136.89.
Several research analysts have issued reports on PX shares. Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and boosted their target price for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, KeyCorp restated a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd.
Several hedge funds and other institutional investors have recently made changes to their positions in PX. Sandy Spring Bank boosted its holdings in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 200 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 123 shares during the period. BB&T Investment Services Inc. purchased a new stake in shares of Praxair in the second quarter valued at approximately $106,000. Exane Derivatives purchased a new stake in shares of Praxair in the second quarter valued at approximately $109,000. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 85.33% of the company’s stock.
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Shares of Praxair (PX) opened at 140.62 on Wednesday. Praxair has a 12-month low of $114.43 and a 12-month high of $142.97. The firm has a 50-day moving average price of $135.94 and a 200 day moving average price of $130.88. The stock has a market cap of $40.22 billion, a PE ratio of 26.33 and a beta of 0.95.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts expect that Praxair will post $5.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were issued a $0.7875 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.24%. Praxair’s payout ratio is 58.88%.
Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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