Air Products and Chemicals (NYSE:APD) Price Target Raised to $350.00 at BMO Capital Markets

Air Products and Chemicals (NYSE:APD - Get Free Report) had its price target lifted by research analysts at BMO Capital Markets from $323.00 to $350.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the basic materials company's stock. BMO Capital Markets' target price suggests a potential upside of 10.80% from the stock's current price.

Several other equities analysts have also recently weighed in on APD. UBS Group raised their target price on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the company a "neutral" rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a "buy" rating to a "hold" rating and cut their target price for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Jefferies Financial Group raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and boosted their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. The Goldman Sachs Group lifted their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the company a "buy" rating in a report on Monday, August 5th. Finally, Wells Fargo & Company lifted their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the company an "equal weight" rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and a consensus target price of $329.76.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded up $2.99 during midday trading on Thursday, hitting $315.88. The company had a trading volume of 1,081,165 shares, compared to its average volume of 1,612,298. The company has a market cap of $70.22 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 3.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company has a fifty day moving average of $303.74 and a two-hundred day moving average of $278.86. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $332.42.

Institutional Investors Weigh In On Air Products and Chemicals

Several hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new position in shares of Air Products and Chemicals during the 3rd quarter valued at approximately $25,000. Iron Horse Wealth Management LLC grew its position in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 55 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Air Products and Chemicals during the second quarter worth about $32,000. Prospera Private Wealth LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth about $42,000. Finally, Trifecta Capital Advisors LLC lifted its stake in Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company's stock valued at $37,000 after buying an additional 136 shares in the last quarter. Hedge funds and other 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.