Air Products and Chemicals (NYSE:APD) Upgraded to Overweight at Wells Fargo & Company

Air Products and Chemicals (NYSE:APD) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, MarketBeat.com reports. The firm presently has a $350.00 price target on the basic materials company’s stock, up from their previous price target of $330.00. Wells Fargo & Company‘s target price would suggest a potential upside of 13.98% from the stock’s previous close.

APD has been the topic of a number of other reports. JPMorgan Chase & Co. cut their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research note on Friday, October 25th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a report on Monday, October 7th. BMO Capital Markets boosted their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Mizuho increased their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $332.71.

Air Products and Chemicals Stock Performance

Shares of APD opened at $307.07 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The stock has a market cap of $68.29 billion, a P/E ratio of 17.87, a P/E/G ratio of 3.13 and a beta of 0.84. The business’s 50 day moving average price is $309.35 and its 200-day moving average price is $293.39. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $337.00.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in Air Products and Chemicals in the 3rd quarter worth $25,000. Iron Horse Wealth Management LLC boosted its holdings in shares of Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Air Products and Chemicals by 58.8% during the fourth quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock valued at $39,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Air Products and Chemicals in the third quarter valued at $42,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Air Products and Chemicals in the 3rd quarter worth $47,000. 81.66% of the stock is owned by hedge funds and other 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.