Air Products and Chemicals (APD) – Research Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Air Products and Chemicals (NYSE: APD):

• 4/10/2024 – Air Products and Chemicals had its price target raised by analysts at Citigroup Inc. from $260.00 to $285.00. They now have a “buy” rating on the stock.
• 4/6/2024 – Air Products and Chemicals was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/29/2024 – Air Products and Chemicals was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/21/2024 – Air Products and Chemicals was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/1/2024 – Air Products and Chemicals is now covered by analysts at Wolfe Research. They set an “outperform” rating and a $279.00 price target on the stock.
• 2/26/2024 – Air Products and Chemicals was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
• 2/16/2024 – Air Products and Chemicals was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 2/16/2024 – Air Products and Chemicals had its price target lowered by analysts at TD Cowen from $345.00 to $305.00. They now have an “outperform” rating on the stock.
• 2/15/2024 – Air Products and Chemicals was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $264.00 price target on the stock.

Air Products and Chemicals Trading Down 1.6 %

NYSE:APD traded down $3.87 during trading hours on Wednesday, reaching $235.79. 699,520 shares of the stock were exchanged, compared to its average volume of 1,743,693. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average of $236.04 and a two-hundred day moving average of $260.08. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a market capitalization of $52.42 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 2.62 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $2.64 earnings per share. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be paid a $1.77 dividend. The ex-dividend date is Thursday, March 28th. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 dividend on an annualized basis and a yield of 3.00%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 67.56%.

Institutional Trading of Air Products and Chemicals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cibc World Market Inc. increased its position in Air Products and Chemicals by 6.9% in the 1st quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock valued at $295,000 after acquiring an additional 76 shares during the period. Prudential PLC acquired a new position in Air Products and Chemicals in the 1st quarter valued at about $1,010,000. Cetera Investment Advisers increased its position in Air Products and Chemicals by 22.3% in the 1st quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock valued at $1,472,000 after acquiring an additional 1,075 shares during the period. Baird Financial Group Inc. increased its position in Air Products and Chemicals by 4.4% in the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock valued at $26,459,000 after acquiring an additional 4,470 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Air Products and Chemicals by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.