Wall Street Zen Upgrades Air Products and Chemicals (NYSE:APD) to Hold

Key Points

• Wall Street Zen has upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating, indicating a positive shift in analysts' outlook.
• Despite varying opinions, the average rating for Air Products and Chemicals is currently a "Moderate Buy" with a consensus price target of $334.75.
• The company reported earnings of $3.09 per share, surpassing estimates and reflecting a 1.2% increase in revenue compared to the previous year.

Air Products and Chemicals (NYSE:APD - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

A number of other research analysts have also recently issued reports on APD. UBS Group lifted their target price on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Barclays decreased their price target on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Bank of America downgraded shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Citigroup boosted their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Mizuho increased their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $334.75.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $281.88 on Friday. Air Products and Chemicals has a 1 year low of $243.69 and a 1 year high of $341.14. The stock has a market capitalization of $62.73 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 5.53 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 0.85. The company's 50 day simple moving average is $285.05 and its 200 day simple moving average is $290.47.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $3.20 EPS. The company's revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Air Products and Chemicals will post 12.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Air Products and Chemicals

Large investors have recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Air Products and Chemicals by 14.5% during the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after acquiring an additional 412 shares during the period. Wellington Management Group LLP grew its stake in Air Products and Chemicals by 36.6% during the fourth quarter. Wellington Management Group LLP now owns 8,775 shares of the basic materials company's stock worth $2,545,000 after purchasing an additional 2,352 shares during the period. Trexquant Investment LP acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $722,000. Bryce Point Capital LLC bought a new stake in Air Products and Chemicals in the fourth quarter worth approximately $478,000. Finally, Westpac Banking Corp lifted its stake in Air Products and Chemicals by 132.4% in the fourth quarter. Westpac Banking Corp now owns 1,369 shares of the basic materials company's stock valued at $397,000 after buying an additional 780 shares during the period. 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.

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