Air Products and Chemicals (NYSE:APD) Given New $290.00 Price Target at Deutsche Bank Aktiengesellschaft

Air Products and Chemicals (NYSE:APD – Get Rating) had its price target increased by Deutsche Bank Aktiengesellschaft from $275.00 to $290.00 in a report published on Friday, The Fly reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other brokerages have also issued reports on APD. Cowen lowered their target price on Air Products and Chemicals from $345.00 to $305.00 and set an outperform rating for the company in a research report on Tuesday, July 19th. Barclays lowered their price objective on Air Products and Chemicals from $300.00 to $275.00 in a research report on Monday, May 9th. Mizuho lowered their price objective on Air Products and Chemicals from $312.00 to $286.00 and set a buy rating for the company in a research report on Thursday, July 7th. Credit Suisse Group lowered their price objective on Air Products and Chemicals from $302.00 to $290.00 and set an outperform rating for the company in a research report on Friday, May 20th. Finally, Atlantic Securities raised Air Products and Chemicals from a neutral rating to an overweight rating and lifted their price objective for the stock from $280.00 to $290.00 in a research report on Wednesday, May 25th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of Moderate Buy and a consensus price target of $289.87.

Air Products and Chemicals Stock Up 1.9 %

Shares of APD opened at $262.64 on Friday. Air Products and Chemicals has a 52 week low of $216.24 and a 52 week high of $316.39. The stock has a market capitalization of $58.25 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 1.87. The stock has a fifty day moving average of $241.57 and a 200-day moving average of $244.03.

Air Products and Chemicals (NYSE:APD – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.01. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Air Products and Chemicals had a return on equity of 15.61% and a net margin of 19.08%. Air Products and Chemicals’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.31 EPS. As a group, sell-side analysts anticipate that Air Products and Chemicals will post 10.25 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 2.47%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.16%.

Hedge Funds Weigh In On Air Products and Chemicals

A number of hedge funds have recently added to or reduced their stakes in the stock. Rational Advisors LLC boosted its stake in shares of Air Products and Chemicals by 126.3% in the 4th quarter. Rational Advisors LLC now owns 86 shares of the basic materials company’s stock worth $26,000 after buying an additional 48 shares during the last quarter. Sierra Capital LLC boosted its stake in shares of Air Products and Chemicals by 1,060.0% in the 2nd quarter. Sierra Capital LLC now owns 116 shares of the basic materials company’s stock worth $28,000 after buying an additional 106 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in shares of Air Products and Chemicals in the 1st quarter worth approximately $30,000. Rise Advisors LLC raised its holdings in shares of Air Products and Chemicals by 57.7% in the 1st quarter. Rise Advisors LLC now owns 123 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 45 shares during the period. Finally, Emerald Advisers LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 80.62% of the company’s stock.

Air Products and Chemicals Company Profile

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.