Air Products and Chemicals, Inc. (APD) Upgraded to “Buy” at HSBC

Air Products and Chemicals, Inc. (NYSE:APD) was upgraded by HSBC from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other research analysts have also recently issued reports about the stock. UBS AG upgraded shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating in a report on Wednesday, September 13th. Barclays PLC reiterated a “buy” rating and issued a $170.00 target price on shares of Air Products and Chemicals in a report on Friday, August 4th. upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Monday. SunTrust Banks, Inc. raised their target price on shares of Air Products and Chemicals to $185.00 and gave the stock a “buy” rating in a report on Monday. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their target price on shares of Air Products and Chemicals from $158.00 to $173.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $164.80.

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

Air Products and Chemicals (NYSE:APD) last announced its 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 company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period last year, the company posted $2.01 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. sell-side analysts forecast that Air Products and Chemicals will post 7 EPS for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Air Products and Chemicals by 3.6% during the second quarter. Vanguard Group Inc. now owns 17,493,224 shares of the basic materials company’s stock valued at $2,502,580,000 after acquiring an additional 604,454 shares in the last quarter. BlackRock Inc. raised its position in Air Products and Chemicals by 8.0% during the second quarter. BlackRock Inc. now owns 15,281,219 shares of the basic materials company’s stock valued at $2,186,132,000 after acquiring an additional 1,131,879 shares in the last quarter. State Street Corp raised its position in Air Products and Chemicals by 2.8% during the second quarter. State Street Corp now owns 10,590,428 shares of the basic materials company’s stock valued at $1,515,127,000 after acquiring an additional 291,150 shares in the last quarter. Principal Financial Group Inc. raised its position in Air Products and Chemicals by 17.6% during the third quarter. Principal Financial Group Inc. now owns 4,165,311 shares of the basic materials company’s stock valued at $629,878,000 after acquiring an additional 624,210 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Air Products and Chemicals by 8,260.1% during 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 acquiring an additional 2,687,657 shares in the last quarter. 88.58% of the stock is currently owned by hedge funds and other institutional investors.

About Air Products and Chemicals

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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