Air Products and Chemicals (NYSE:APD) Price Target Cut to $345.00 by Analysts at Citigroup

Air Products and Chemicals (NYSE:APD) had its price target lowered by Citigroup from $373.00 to $345.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target indicates a potential upside of 17.96% from the stock’s previous close.

Several other research analysts have also recently issued reports on APD. UBS Group dropped their target price on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $315.00 to $365.00 in a report on Friday, January 24th. JPMorgan Chase & Co. reaffirmed 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. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $341.47.

Air Products and Chemicals Stock Down 0.3 %

NYSE APD traded down $0.98 during mid-day trading on Tuesday, reaching $292.47. The stock had a trading volume of 120,361 shares, compared to its average volume of 1,413,535. The stock has a market cap of $65.07 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. Air Products and Chemicals has a 1 year low of $227.53 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The company has a fifty day moving average price of $313.04 and a 200 day moving average price of $308.84.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data 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, research analysts expect that Air Products and Chemicals will post 12.69 earnings per share for the current year.

Insider Transactions at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Lefevere sold 1,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the completion of the sale, the insider now owns 1,462 shares in the company, valued at $462,240.54. This represents a 50.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Air Products and Chemicals

A number of large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Air Products and Chemicals by 1.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock valued at $505,000 after purchasing an additional 31 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Air Products and Chemicals by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock valued at $588,000 after buying an additional 31 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Silver Oak Securities Incorporated grew its position in Air Products and Chemicals by 1.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after acquiring an additional 32 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Air Products and Chemicals by 3.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock worth $282,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Company Profile

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.