Air Products and Chemicals (NYSE:APD) Given New $345.00 Price Target at JPMorgan Chase & Co.

Air Products and Chemicals (NYSE:APD) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $350.00 to $345.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 10.23% from the stock’s previous close.

A number of other brokerages also recently issued reports on APD. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research report on Friday, October 25th. Citigroup upped their price target on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, October 7th. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group boosted their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Vertical Research raised 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, October 7th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $327.00.

Air Products and Chemicals Stock Performance

NYSE APD opened at $312.99 on Friday. The company has a market capitalization of $69.58 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.22 and a beta of 0.81. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $332.42. The stock has a fifty day simple moving average of $301.56 and a 200 day simple moving average of $276.93.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Sell-side analysts expect that Air Products and Chemicals will post 12.31 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Avantax Advisory Services Inc. lifted its position in Air Products and Chemicals by 151.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock valued at $6,028,000 after acquiring an additional 14,981 shares in the last quarter. Forsta AP Fonden boosted its position in shares of Air Products and Chemicals by 13.4% during the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after buying an additional 5,400 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Air Products and Chemicals by 3.6% during the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock worth $16,355,000 after buying an additional 2,321 shares in the last quarter. Woodstock Corp raised its position in Air Products and Chemicals by 6.5% in the 3rd quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock valued at $11,605,000 after buying an additional 2,387 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its stake in Air Products and Chemicals by 33.8% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock valued at $15,217,000 after acquiring an additional 12,925 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

About Air Products and Chemicals

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.