Air Products and Chemicals (NYSE:APD) Reaches New 52-Week High Following Analyst Upgrade

Shares of Air Products and Chemicals, Inc. (NYSE:APD - Get Free Report) hit a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $340.00 to $350.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Air Products and Chemicals traded as high as $332.43 and last traded at $330.94, with a volume of 145632 shares. The stock had previously closed at $332.10.

Several other equities analysts have also recently issued reports on APD. Vertical Research upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and set a $336.00 price target on the stock in a report on Monday, October 7th. Mizuho increased their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. StockNews.com raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a "buy" rating to a "hold" rating and reduced their price target for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Finally, BMO Capital Markets upped their price objective on Air Products and Chemicals from $300.00 to $323.00 and gave the company an "outperform" rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $320.82.

Hedge Funds Weigh In On Air Products and Chemicals

A number of large investors have recently added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in shares of Air Products and Chemicals during the first quarter worth about $27,000. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals during the 2nd quarter worth approximately $32,000. Hexagon Capital Partners LLC raised its holdings in shares of Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 135 shares during the last quarter. Trifecta Capital Advisors LLC lifted its position in shares of Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company's stock worth $37,000 after purchasing an additional 136 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in Air Products and Chemicals by 128.8% during the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company's stock worth $44,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The business's 50-day moving average is $289.56 and its two-hundred day moving average is $268.89. The firm has a market cap of $73.71 billion, a P/E ratio of 29.74, a P/E/G ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

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.