Air Products and Chemicals (NYSE:APD) Upgraded by BNP Paribas to “Strong-Buy” Rating

Air Products and Chemicals (NYSE:APD) was upgraded by research analysts at BNP Paribas to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

APD has been the subject of a number of other reports. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Citigroup boosted their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group raised their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $339.94.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $310.35 on Tuesday. The stock’s 50-day simple moving average is $308.56 and its 200 day simple moving average is $302.65. The firm has a market capitalization of $69.02 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The company has a quick ratio of 1.34, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals has a twelve month low of $216.30 and a twelve month high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. On average, analysts anticipate that Air Products and Chemicals will post 12.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the sale, the insider now directly owns 3,834 shares in the company, valued at $1,173,204. This trade represents a 34.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,749 shares of company stock worth $3,030,032. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals in the 3rd quarter worth $25,000. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $26,000. Sierra Ocean LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at $30,000. Raleigh Capital Management Inc. lifted its stake in shares of Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Finally, Financial Life Planners acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.