Air Products and Chemicals (NYSE:APD) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Air Products and Chemicals (NYSE:APD) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Several other equities research analysts have also commented on APD. BMO Capital Markets boosted their price target on shares of Air Products and Chemicals from $250.00 to $263.00 and gave the company an outperform rating in a report on Wednesday. TheStreet lowered shares of Air Products and Chemicals from a b rating to a c+ rating in a report on Monday, February 5th. Wolfe Research started coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They issued an outperform rating and a $279.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $270.00 to $260.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, TD Cowen lifted their price objective on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a buy rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $277.43.

Air Products and Chemicals Trading Up 0.9 %

APD stock opened at $245.87 on Thursday. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The firm’s 50-day moving average is $237.96 and its 200 day moving average is $254.47. The company has a market capitalization of $54.66 billion, a PE ratio of 22.19, a P/E/G ratio of 2.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the business posted $2.74 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts anticipate that Air Products and Chemicals will post 12.31 EPS for the current year.

Institutional Trading of Air Products and Chemicals

Large investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its stake in shares of Air Products and Chemicals by 167.2% in the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after purchasing an additional 4,330,471 shares during the period. Norges Bank acquired a new position in Air Products and Chemicals during the fourth quarter worth $852,288,000. Nordea Investment Management AB raised its position in Air Products and Chemicals by 1,696.4% during the fourth quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock worth $142,344,000 after acquiring an additional 489,350 shares during the period. Scharf Investments LLC acquired a new position in Air Products and Chemicals during the first quarter worth $87,173,000. Finally, Morningstar Investment Services LLC raised its position in Air Products and Chemicals by 96.4% during the fourth quarter. Morningstar Investment Services LLC now owns 684,057 shares of the basic materials company’s stock worth $187,589,000 after acquiring an additional 335,717 shares during the period. 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.