Air Products and Chemicals (NYSE:APD) Rating Increased to Outperform at Sanford C. Bernstein

Air Products and Chemicals (NYSE:APD) was upgraded by research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has a $375.00 price target on the basic materials company’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 11.91% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research note on Friday, October 25th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. BMO Capital Markets upped their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Mizuho lifted their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $340.50.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $335.10 on Friday. The firm’s 50 day moving average price is $310.22 and its two-hundred day moving average price is $298.46. The stock has a market cap of $74.52 billion, a PE ratio of 19.51, a PEG ratio of 3.46 and a beta of 0.84. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $337.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Hedge Funds Weigh In On Air Products and Chemicals

A number of institutional investors have recently added to or reduced their stakes in APD. Silver Oak Securities Incorporated raised its position in shares of 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 valued at $888,000 after purchasing an additional 32 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Air Products and Chemicals by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after buying an additional 34 shares during the last quarter. CX Institutional raised its holdings in Air Products and Chemicals by 2.6% in the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after acquiring an additional 34 shares during the period. Bank of Stockton lifted its position in Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock worth $540,000 after acquiring an additional 34 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Air Products and Chemicals by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 37 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.