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.
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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