Praxair, Inc. (PX) Stock Rating Upgraded by Argus
Praxair, Inc. (NYSE:PX) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Several other brokerages also recently weighed in on PX. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and raised their price target for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Thursday, October 19th. Finally, BidaskClub downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $148.62.
Praxair (PX) opened at $148.28 on Monday. Praxair has a one year low of $115.00 and a one year high of $150.25. The firm has a market cap of $42,453.35, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22.
Praxair (NYSE:PX) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. equities research analysts expect that Praxair will post 5.81 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dailypolitical.com/2017/11/13/praxair-inc-px-stock-rating-upgraded-by-argus.html.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the transaction, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Praxair by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock valued at $2,757,471,000 after buying an additional 523,022 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Praxair by 2,091.9% during the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares in the last quarter. Capital World Investors lifted its stake in shares of Praxair by 4.3% during the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after buying an additional 716,835 shares in the last quarter. State Street Corp lifted its stake in shares of Praxair by 0.5% during the 1st quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after buying an additional 74,856 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its stake in shares of Praxair by 24.0% during the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock valued at $473,016,000 after buying an additional 655,456 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.
Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.