Praxair, Inc. (PX) PT Raised to $172.00 at J P Morgan Chase & Co

Praxair, Inc. (NYSE:PX) had its target price lifted by analysts at J P Morgan Chase & Co from $145.00 to $172.00 in a research note issued on Friday. The brokerage currently has an “overweight” rating on the basic materials company’s stock. J P Morgan Chase & Co’s price objective suggests a potential upside of 14.18% from the stock’s previous close.

Several other brokerages have also recently issued reports on PX. Barclays PLC increased their target price on Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. Susquehanna Bancshares Inc increased their target price on Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research report on Monday, November 13th. Finally, UBS AG increased their target price on Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $151.36.

Shares of Praxair (NYSE:PX) opened at $150.64 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $43,128.98, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 2.25 and a beta of 0.99. Praxair has a 52-week low of $115.00 and a 52-week high of $151.44.

Praxair (NYSE:PX) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. equities research analysts forecast that Praxair will post 5.81 earnings per share for the current fiscal year.

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

Hedge funds have recently modified their holdings of the stock. Point72 Asia Hong Kong Ltd purchased a new position in Praxair in the 1st quarter worth $233,000. Federated Investors Inc. PA raised its stake in Praxair by 47.3% in the 2nd quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock worth $1,333,000 after acquiring an additional 3,228 shares during the last quarter. Seven Eight Capital LP purchased a new position in Praxair in the 2nd quarter worth $1,286,000. Mosaic Family Wealth LLC raised its stake in Praxair by 6.3% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock worth $173,000 after acquiring an additional 77 shares during the last quarter. Finally, Coho Partners Ltd. raised its stake in Praxair by 776.9% in the 2nd quarter. Coho Partners Ltd. now owns 16,073 shares of the basic materials company’s stock worth $2,130,000 after acquiring an additional 14,240 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

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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