Wells Fargo & Company Raises Air Products and Chemicals (NYSE:APD) Price Target to $330.00

Air Products and Chemicals (NYSE:APD) had its price target increased by analysts at Wells Fargo & Company from $280.00 to $330.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 4.31% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Barclays increased their price target on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their target price for the company from $310.00 to $280.00 in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a research note on Monday. Finally, Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $305.00 to $365.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $316.47.

Air Products and Chemicals Price Performance

NYSE APD traded up $1.75 during trading hours on Friday, reaching $316.36. The company’s stock had a trading volume of 243,747 shares, compared to its average volume of 1,628,659. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $323.86. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The company’s 50-day moving average is $284.08 and its two-hundred day moving average is $265.00. The stock has a market cap of $70.33 billion, a PE ratio of 27.42, a PEG ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Analysts forecast that Air Products and Chemicals will post 12.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APD. Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals in the first quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new position in Air Products and Chemicals during the fourth quarter valued at about $28,000. Meeder Asset Management Inc. acquired a new position in shares of Air Products and Chemicals during the 2nd quarter valued at about $32,000. Hexagon Capital Partners LLC raised its stake in shares of Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. Finally, Trifecta Capital Advisors LLC grew its holdings in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.