Air Products and Chemicals, Inc. (APD) Upgraded to “Buy” at HSBC Holdings PLC

HSBC Holdings PLC upgraded shares of Air Products and Chemicals, Inc. (NYSE:APD) from a hold rating to a buy rating in a report published on Tuesday.

Several other research firms have also recently weighed in on APD. Jefferies Group LLC restated a hold rating and set a $155.00 price target on shares of Air Products and Chemicals in a report on Thursday, September 28th. Citigroup Inc. lifted their price objective on shares of Air Products and Chemicals from $172.30 to $185.00 and gave the stock a buy rating in a research report on Friday, October 27th. UBS AG lifted their price objective on shares of Air Products and Chemicals from $162.00 to $172.00 and gave the stock a buy rating in a research report on Friday, October 27th. Credit Suisse Group reaffirmed an outperform rating and issued a $158.00 price objective (up previously from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Finally, Barclays PLC reaffirmed a buy rating and issued a $170.00 price objective on shares of Air Products and Chemicals in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $164.80.

Air Products and Chemicals (NYSE:APD) traded down $1.11 during trading on Tuesday, reaching $161.05. 194,651 shares of the company traded hands, compared to its average volume of 1,332,061. Air Products and Chemicals has a 1-year low of $133.63 and a 1-year high of $163.56. The stock has a market capitalization of $35,120.00, a PE ratio of 25.79, a PEG ratio of 1.92 and a beta of 1.24. The company has a current ratio of 2.36, a quick ratio of 2.23 and a debt-to-equity ratio of 0.33.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.08. Air Products and Chemicals had a net margin of 36.65% and a return on equity of 15.25%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the company earned $2.01 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities analysts predict that Air Products and Chemicals will post 7 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, February 12th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.36%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 73.64%.

A number of institutional investors have recently bought and sold shares of APD. Patten Group Inc. increased its holdings in Air Products and Chemicals by 3.7% during the 1st quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 28 shares during the period. IMS Capital Management bought a new stake in Air Products and Chemicals during the 2nd quarter worth approximately $129,000. Armbruster Capital Management Inc. grew its stake in Air Products and Chemicals by 13.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 908 shares of the basic materials company’s stock worth $130,000 after buying an additional 108 shares in the last quarter. Hanson & Doremus Investment Management grew its stake in Air Products and Chemicals by 8.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 931 shares of the basic materials company’s stock worth $133,000 after buying an additional 75 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Air Products and Chemicals by 25.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,020 shares of the basic materials company’s stock worth $145,000 after buying an additional 210 shares in the last quarter. 88.58% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

Analyst Recommendations for Air Products and Chemicals (NYSE:APD)

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