Praxair (PX) Given a $186.00 Price Target at Jefferies Group

Jefferies Group set a $186.00 price target on Praxair (NYSE:PX) in a research report released on Monday. The brokerage currently has a buy rating on the basic materials company’s stock.

Several other research analysts have also recently commented on PX. BidaskClub upgraded shares of Praxair from a sell rating to a hold rating in a report on Thursday, August 17th. Citigroup upgraded shares of Praxair from a neutral rating to a buy rating and increased their target price for the stock from $137.00 to $168.00 in a report on Monday, October 30th. KeyCorp restated a hold rating on shares of Praxair in a report on Sunday, September 3rd. Susquehanna Bancshares increased their target price on shares of Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Finally, UBS increased their target price on shares of Praxair from $150.00 to $160.00 and gave the stock a buy rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $156.15.

Shares of Praxair (PX) traded up $0.85 during mid-day trading on Monday, hitting $152.26. 3,109,400 shares of the stock traded hands, compared to its average volume of 1,346,837. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91. Praxair has a 52 week low of $115.00 and a 52 week high of $156.40. The company has a market capitalization of $43,349.48, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00.

Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. sell-side analysts predict that Praxair will post 5.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio is currently 56.05%.

In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. IBM Retirement Fund lifted its stake in shares of Praxair by 120.1% during the 2nd quarter. IBM Retirement Fund now owns 7,010 shares of the basic materials company’s stock worth $1,039,000 after buying an additional 3,825 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in shares of Praxair by 13,155.1% during the 2nd quarter. Harbour Capital Advisors LLC now owns 62,829 shares of the basic materials company’s stock worth $474,000 after buying an additional 62,355 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its stake in shares of Praxair by 5.0% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 26,937 shares of the basic materials company’s stock worth $3,570,000 after buying an additional 1,283 shares during the last quarter. Klingenstein Fields & Co. LLC lifted its stake in shares of Praxair by 3.4% during the 2nd quarter. Klingenstein Fields & Co. LLC now owns 1,746 shares of the basic materials company’s stock worth $231,000 after buying an additional 58 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Praxair by 1.5% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 6,930 shares of the basic materials company’s stock worth $919,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

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About Praxair

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.

Analyst Recommendations for Praxair (NYSE:PX)

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