Citigroup Forecasts Strong Price Appreciation for Air Products and Chemicals (NYSE:APD) Stock

Air Products and Chemicals (NYSE:APD - Free Report) had its price objective hoisted by Citigroup from $345.00 to $365.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company's stock.

A number of other research analysts have also issued reports on APD. StockNews.com upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Monday, September 23rd. Redburn Atlantic raised shares of Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 target price for the company in a research note on Friday, October 25th. Jefferies Financial Group upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Mizuho increased their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a "buy" rating to a "hold" rating and lowered their price target for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $328.18.

Air Products and Chemicals Stock Performance

APD stock traded up $0.92 during trading on Monday, hitting $313.91. 1,936,174 shares of the company traded hands, compared to its average volume of 1,405,513. Air Products and Chemicals has a 1 year low of $212.24 and a 1 year high of $332.42. The company has a market cap of $69.79 billion, a PE ratio of 18.27, a P/E/G ratio of 3.46 and a beta of 0.81. The stock's 50-day simple moving average is $301.56 and its 200 day simple moving average is $277.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.10.

Hedge Funds Weigh In On Air Products and Chemicals

A number of hedge funds and other institutional investors have recently bought and sold shares of APD. Capital Research Global Investors increased its holdings in Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company's stock worth $2,720,704,000 after purchasing an additional 4,309,040 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Air Products and Chemicals by 4.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company's stock worth $790,371,000 after buying an additional 122,676 shares during the period. Pathway Financial Advisers LLC lifted its stake in Air Products and Chemicals by 29,954.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company's stock worth $861,722,000 after acquiring an additional 2,884,581 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company's stock worth $720,597,000 after acquiring an additional 1,564,169 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company's stock valued at $608,312,000 after purchasing an additional 33,313 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

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.