Air Products & Chemicals (APD) Now Covered by Analysts at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Air Products & Chemicals (NYSE:APD) in a research report released on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $202.00 price target on the basic materials company’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Air Products & Chemicals from a hold rating to a buy rating and set a $174.00 price target for the company in a research note on Wednesday, June 27th. Credit Suisse Group lifted their price target on shares of Air Products & Chemicals from $182.00 to $188.00 and gave the stock a buy rating in a research note on Friday, July 27th. Vertical Research upgraded shares of Air Products & Chemicals from a hold rating to a buy rating in a research note on Wednesday, August 29th. JPMorgan Chase & Co. dropped their price target on shares of Air Products & Chemicals from $172.00 to $170.00 and set an overweight rating for the company in a research note on Friday, July 27th. Finally, Susquehanna Bancshares lifted their price target on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock a positive rating in a research note on Wednesday, August 1st. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $186.65.

APD opened at $169.85 on Monday. The company has a market cap of $37.41 billion, a PE ratio of 26.92, a PEG ratio of 1.42 and a beta of 1.06. Air Products & Chemicals has a 52-week low of $149.94 and a 52-week high of $175.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.24 and a current ratio of 2.40.

Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.11. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.31 billion. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. equities research analysts predict that Air Products & Chemicals will post 7.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 12th. Shareholders of record on Monday, October 1st will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Friday, September 28th. Air Products & Chemicals’s dividend payout ratio is presently 69.73%.

A number of institutional investors have recently added to or reduced their stakes in the business. Mount Yale Investment Advisors LLC acquired a new position in shares of Air Products & Chemicals during the first quarter valued at $114,000. Braun Bostich & Associates Inc. boosted its holdings in shares of Air Products & Chemicals by 542.6% during the second quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 624 shares during the period. Private Capital Group LLC boosted its holdings in shares of Air Products & Chemicals by 2,231.4% during the first quarter. Private Capital Group LLC now owns 816 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 781 shares during the period. IMS Capital Management acquired a new position in shares of Air Products & Chemicals during the second quarter valued at $146,000. Finally, Vigilant Capital Management LLC acquired a new position in shares of Air Products & Chemicals during the second quarter valued at $158,000. 85.93% of the stock is owned by hedge funds and other institutional investors.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

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Analyst Recommendations for Air Products & Chemicals (NYSE:APD)

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