Air Products and Chemicals (NYSE:APD) Price Target Lowered to $360.00 at BMO Capital Markets

Posted by Defense World Staff on Mar 25th, 2023

Air Products and Chemicals (NYSE:APD – Get Rating) had its target price cut by BMO Capital Markets from $386.00 to $360.00 in a research note issued to investors on Friday, The Fly reports.

Other research analysts have also recently issued research reports about the company. Mizuho dropped their price target on Air Products and Chemicals from $330.00 to $325.00 and set a buy rating on the stock in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Air Products and Chemicals from $292.00 to $340.00 in a report on Wednesday, December 7th. Citigroup cut their target price on shares of Air Products and Chemicals from $339.00 to $329.00 and set a neutral rating on the stock in a research note on Friday, February 3rd. Evercore ISI boosted their target price on shares of Air Products and Chemicals from $295.00 to $305.00 and gave the company an in-line rating in a research note on Tuesday, March 7th. Finally, Wells Fargo & Company boosted their target price on shares of Air Products and Chemicals from $280.00 to $307.00 and gave the company an equal weight rating in a research note on Friday, February 3rd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of Moderate Buy and a consensus target price of $311.45.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $267.67 on Friday. Air Products and Chemicals has a 12 month low of $218.88 and a 12 month high of $328.56. The stock has a market cap of $59.44 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.10 and a beta of 0.84. The stock’s 50 day moving average price is $290.30 and its 200 day moving average price is $282.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.74.

Air Products and Chemicals (NYSE:APD – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The basic materials company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.09). The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.27 billion. Air Products and Chemicals had a net margin of 17.61% and a return on equity of 16.45%. Air Products and Chemicals’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.52 EPS. Equities research analysts anticipate that Air Products and Chemicals will post 11.39 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Monday, April 3rd will be issued a $1.75 dividend. The ex-dividend date of this dividend is Friday, March 31st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.62. This represents a $7.00 dividend on an annualized basis and a yield of 2.62%. Air Products and Chemicals’s dividend payout ratio is currently 63.59%.

Institutional Investors Weigh In On Air Products and Chemicals

A number of large investors have recently bought and sold shares of the business. Covenant Asset Management LLC boosted its holdings in Air Products and Chemicals by 0.7% in the fourth quarter. Covenant Asset Management LLC now owns 4,813 shares of the basic materials company’s stock worth $1,484,000 after purchasing an additional 33 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its holdings in Air Products and Chemicals by 2.2% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,552 shares of the basic materials company’s stock worth $478,000 after purchasing an additional 34 shares in the last quarter. Evoke Wealth LLC boosted its holdings in Air Products and Chemicals by 21.9% in the third quarter. Evoke Wealth LLC now owns 206 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 37 shares in the last quarter. Beaumont Asset Management L.L.C. boosted its holdings in Air Products and Chemicals by 0.8% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 4,639 shares of the basic materials company’s stock worth $1,430,000 after purchasing an additional 37 shares in the last quarter. Finally, Quantum Private Wealth LLC boosted its holdings in Air Products and Chemicals by 1.4% in the fourth quarter. Quantum Private Wealth LLC now owns 2,657 shares of the basic materials company’s stock worth $819,000 after purchasing an additional 37 shares in the last quarter. 82.74% of the stock is currently owned by institutional investors.

Air Products and Chemicals Company Profile

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Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global, and Corporate & Other. The Industrial Gases-America, EMEA, and Asia segment markets and produces atmospheric gases, such as 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 and processing of gases, such as air separation units and non-cryogenic generators.

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