Credit Suisse Group AG Raises Air Products and Chemicals, Inc. (APD) Price Target to $173.00

Air Products and Chemicals, Inc. (NYSE:APD) had its price objective boosted by Credit Suisse Group AG from $158.00 to $173.00 in a report issued on Friday, October 27th. Credit Suisse Group AG currently has an outperform rating on the basic materials company’s stock.

Several other equities research analysts have also recently commented on APD. Deutsche Bank AG boosted their price target on shares of Air Products and Chemicals from $160.00 to $168.00 and gave the stock a hold rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a hold rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Thursday, September 28th. Barclays PLC reissued a buy rating and issued a $170.00 price target on shares of Air Products and Chemicals in a research note on Friday, August 4th. SunTrust Banks, Inc. reissued a buy rating and issued a $175.00 price target on shares of Air Products and Chemicals in a research note on Friday, October 27th. Finally, UBS AG raised Air Products and Chemicals from a neutral rating to a positive rating in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $164.80.

Shares of Air Products and Chemicals (APD) traded up $2.46 on Friday, hitting $162.76. 1,935,100 shares of the stock traded hands, compared to its average volume of 1,332,517. Air Products and Chemicals has a 52 week low of $133.63 and a 52 week high of $163.56. The company has a current ratio of 2.36, a quick ratio of 2.23 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $34,938.57, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.68 by $0.08. Air Products and Chemicals had a net margin of 36.65% and a return on equity of 15.25%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the business earned $2.01 earnings per share. Air Products and Chemicals’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities analysts expect that Air Products and Chemicals will post 7 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.33%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 27.82%.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Air Products and Chemicals by 1,973.1% in the first quarter. BlackRock Inc. now owns 14,149,340 shares of the basic materials company’s stock valued at $1,914,263,000 after purchasing an additional 13,466,808 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Air Products and Chemicals by 8,260.1% in the second quarter. Janus Henderson Group PLC now owns 2,720,195 shares of the basic materials company’s stock valued at $389,152,000 after purchasing an additional 2,687,657 shares in the last quarter. Findlay Park Partners LLP acquired a new position in shares of Air Products and Chemicals in the third quarter valued at $362,928,000. First Eagle Investment Management LLC raised its stake in shares of Air Products and Chemicals by 80.2% in the third quarter. First Eagle Investment Management LLC now owns 2,313,812 shares of the basic materials company’s stock valued at $349,895,000 after purchasing an additional 1,029,451 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Air Products and Chemicals by 5.5% in the first quarter. Vanguard Group Inc. now owns 16,888,770 shares of the basic materials company’s stock valued at $2,284,882,000 after purchasing an additional 887,369 shares in the last quarter. Institutional investors own 88.58% of the company’s stock.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

Analyst Recommendations for Air Products and Chemicals (NYSE:APD)

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