Wells Fargo & Company Issues Pessimistic Forecast for Air Products and Chemicals (NYSE:APD) Stock Price

Air Products and Chemicals (NYSE:APD - Get Free Report) had its target price lowered by stock analysts at Wells Fargo & Company from $365.00 to $320.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the basic materials company's stock. Wells Fargo & Company's price target suggests a potential upside of 17.47% from the company's current price.

A number of other equities research analysts have also weighed in on the company. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a research report on Tuesday, February 11th. Barclays lowered their price objective on Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. Bank of America downgraded shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 target price on the stock. in a research report on Monday, January 27th. Citigroup decreased their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Finally, Sanford C. Bernstein raised Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $338.24.

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Air Products and Chemicals Price Performance

Shares of APD stock traded up $3.41 on Wednesday, hitting $272.42. 816,046 shares of the company's stock were exchanged, compared to its average volume of 1,492,014. The company has a 50 day moving average of $298.09 and a 200 day moving average of $307.68. The stock has a market cap of $60.61 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. Air Products and Chemicals has a 12 month low of $227.53 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. On average, equities research analysts predict that Air Products and Chemicals will post 12.69 EPS for the current year.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the sale, the chief financial officer now directly owns 10,680 shares in the company, valued at $3,282,177.60. This trade represents a 23.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,500 shares of company stock valued at $4,842,604. Insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Air Products and Chemicals

Large investors have recently added to or reduced their stakes in the company. Mantle Ridge LP bought a new position in Air Products and Chemicals in the 4th quarter worth approximately $1,191,344,000. Norges Bank bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $919,721,000. Bank of America Corp DE lifted its holdings in Air Products and Chemicals by 129.4% during the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $885,371,000. Finally, Capital International Investors bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $436,636,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Company Profile

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.