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

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

Several other equities analysts also recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an equal weight rating on the stock in a report on Wednesday, February 7th. Bank of America upped their target price on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the stock a buy rating in a report on Wednesday, May 1st. TheStreet cut Air Products and Chemicals from a b rating to a c+ rating in a report on Monday, February 5th. BMO Capital Markets upped their price objective on Air Products and Chemicals from $250.00 to $263.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Finally, TD Cowen lifted their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $277.43.

Air Products and Chemicals Stock Performance

Shares of NYSE APD 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 has a market capitalization of $54.66 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. The company has a current ratio of 1.49, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $238.22 and a 200 day moving average of $253.72.

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

Institutional Investors Weigh In On Air Products and Chemicals

Large investors have recently bought and sold shares of the business. SPC Financial Inc. grew its stake in shares of Air Products and Chemicals by 30.6% in the 1st quarter. SPC Financial Inc. now owns 1,957 shares of the basic materials company’s stock worth $474,000 after buying an additional 458 shares in the last quarter. McClarren Financial Advisors Inc. lifted its holdings in shares of Air Products and Chemicals by 268.2% in the 1st quarter. McClarren Financial Advisors Inc. now owns 243 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 177 shares during the last quarter. DAVENPORT & Co LLC grew its position in Air Products and Chemicals by 41.3% in the first quarter. DAVENPORT & Co LLC now owns 627,519 shares of the basic materials company’s stock worth $152,219,000 after acquiring an additional 183,461 shares in the last quarter. Catalina Capital Group LLC bought a new stake in Air Products and Chemicals during the first quarter worth approximately $229,000. Finally, Avidian Wealth Solutions LLC purchased a new stake in Air Products and Chemicals during the first quarter valued at approximately $204,000. Institutional investors own 81.66% of the company’s stock.

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.