Air Products and Chemicals (NYSE:APD) Now Covered by Royal Bank of Canada

Research analysts at Royal Bank of Canada started coverage on shares of Air Products and Chemicals (NYSE:APD - Get Free Report) in a report released on Friday, Marketbeat reports. The brokerage set an "outperform" rating and a $355.00 price target on the basic materials company's stock. Royal Bank of Canada's price objective indicates a potential upside of 26.78% from the company's previous close.

Several other brokerages also recently issued reports on APD. Morgan Stanley initiated coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target for the company. Citigroup lowered their target price on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Wells Fargo & Company cut their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. UBS Group lowered their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Bank of America cut shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $332.41.

Air Products and Chemicals Trading Down 1.2%

NYSE APD traded down $3.26 on Friday, reaching $280.02. The company had a trading volume of 932,938 shares, compared to its average volume of 1,428,096. Air Products and Chemicals has a 52 week low of $243.69 and a 52 week high of $341.14. The stock's 50 day moving average is $271.69 and its 200-day moving average is $294.16. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market cap of $62.32 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 3.07 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the company earned $2.85 earnings per share. The business's revenue was down .5% compared to the same quarter last year. Equities analysts predict that Air Products and Chemicals will post 12.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth $25,000. Generali Investments Management Co LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $26,000. Saudi Central Bank bought a new stake in shares of Air Products and Chemicals during the first quarter worth $26,000. Cheviot Value Management LLC acquired a new position in shares of Air Products and Chemicals during the first quarter worth $27,000. Finally, Sierra Ocean LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter valued at $30,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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.