BMO Capital Markets Increases Air Products & Chemicals (APD) Price Target to $216.00

Air Products & Chemicals (NYSE:APD) had its price target increased by BMO Capital Markets from $215.00 to $216.00 in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

APD has been the subject of a number of other research reports. Bank of America cut shares of Air Products & Chemicals from a neutral rating to an underperform rating and set a $170.00 price objective for the company. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Air Products & Chemicals from a buy rating to a hold rating in a research note on Wednesday, January 16th. Credit Suisse Group upped their price objective on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, March 7th. KeyCorp upped their price objective on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the company an overweight rating in a research note on Friday, April 12th. Finally, UBS Group upped their price objective on shares of Air Products & Chemicals from $215.00 to $224.00 and gave the company a buy rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $209.92.

Shares of Air Products & Chemicals stock opened at $202.57 on Thursday. Air Products & Chemicals has a 52-week low of $148.44 and a 52-week high of $203.41. The firm has a market capitalization of $44.49 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 2.03.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company earned $1.71 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Air Products & Chemicals will post 8.21 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Air Products & Chemicals by 6.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,539 shares of the basic materials company’s stock valued at $5,641,000 after buying an additional 1,670 shares during the period. Securian Asset Management Inc boosted its position in Air Products & Chemicals by 0.7% during the 1st quarter. Securian Asset Management Inc now owns 22,988 shares of the basic materials company’s stock valued at $4,390,000 after buying an additional 149 shares during the period. Farmers & Merchants Investments Inc. boosted its position in Air Products & Chemicals by 1.2% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 62,375 shares of the basic materials company’s stock valued at $11,911,000 after buying an additional 738 shares during the period. FTB Advisors Inc. boosted its position in Air Products & Chemicals by 34.5% during the 1st quarter. FTB Advisors Inc. now owns 320 shares of the basic materials company’s stock valued at $60,000 after buying an additional 82 shares during the period. Finally, Arrow Financial Corp boosted its position in Air Products & Chemicals by 800.0% during the 1st quarter. Arrow Financial Corp now owns 3,060 shares of the basic materials company’s stock valued at $585,000 after buying an additional 2,720 shares during the period. 87.47% of the stock is owned by institutional investors and hedge funds.

Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Recommended Story: How a Back-End Load Mutual Fund Works

Analyst Recommendations for Air Products & Chemicals (NYSE:APD)

Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.