Air Products & Chemicals (APD) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Air Products & Chemicals (NYSE:APD) from a neutral rating to an overweight rating in a research note released on Friday, Marketbeat.com reports.

Several other brokerages also recently weighed in on APD. Seaport Global Securities reiterated a buy rating and issued a $185.00 price target on shares of Air Products & Chemicals in a report on Monday, January 29th. Citigroup boosted their price target on Air Products & Chemicals from $172.30 to $185.00 and gave the company a buy rating in a report on Friday, October 27th. Jefferies Group reissued a buy rating and set a $195.00 price objective on shares of Air Products & Chemicals in a research note on Monday, January 29th. UBS Group boosted their price objective on shares of Air Products & Chemicals from $162.00 to $172.00 and gave the company a buy rating in a research note on Friday, October 27th. Finally, Credit Suisse Group boosted their price objective on shares of Air Products & Chemicals from $158.00 to $173.00 and gave the company an outperform rating in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $175.38.

Shares of Air Products & Chemicals (NYSE APD) traded up $5.29 on Friday, reaching $158.09. The company’s stock had a trading volume of 1,787,004 shares, compared to its average volume of 1,417,894. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.92 and a quick ratio of 2.73. The firm has a market cap of $33,453.93, a P/E ratio of 12.17, a PEG ratio of 1.49 and a beta of 1.22. Air Products & Chemicals has a 52 week low of $133.63 and a 52 week high of $175.17.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Friday, January 26th. The basic materials company reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.13. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. Air Products & Chemicals had a return on equity of 14.80% and a net margin of 33.51%. Air Products & Chemicals’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.47 EPS. research analysts anticipate that Air Products & Chemicals will post 7.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Monday, April 2nd will be paid a dividend of $1.10 per share. The ex-dividend date is Thursday, March 29th. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $0.95. This represents a $4.40 annualized dividend and a dividend yield of 2.78%. Air Products & Chemicals’s payout ratio is currently 29.25%.

Several hedge funds and other institutional investors have recently made changes to their positions in APD. Ameritas Investment Partners Inc. boosted its position in Air Products & Chemicals by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,044 shares of the basic materials company’s stock worth $1,293,000 after purchasing an additional 120 shares during the period. First National Trust Co boosted its position in Air Products & Chemicals by 23.3% during the 4th quarter. First National Trust Co now owns 1,637 shares of the basic materials company’s stock worth $269,000 after purchasing an additional 309 shares during the period. Welch & Forbes LLC boosted its position in Air Products & Chemicals by 0.6% during the 3rd quarter. Welch & Forbes LLC now owns 52,871 shares of the basic materials company’s stock worth $7,996,000 after purchasing an additional 316 shares during the period. Whittier Trust Co. boosted its position in Air Products & Chemicals by 7.2% during the 4th quarter. Whittier Trust Co. now owns 4,758 shares of the basic materials company’s stock worth $780,000 after purchasing an additional 320 shares during the period. Finally, Advisor Partners LLC boosted its position in Air Products & Chemicals by 6.7% during the 4th quarter. Advisor Partners LLC now owns 5,174 shares of the basic materials company’s stock worth $868,000 after purchasing an additional 324 shares during the period. 88.01% of the stock is owned by institutional investors.

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About Air Products & 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 & Chemicals (NYSE:APD)

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