Air Products & Chemicals, Inc. (NYSE:APD)’s share price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $201.97 and last traded at $199.39, with a volume of 80872 shares. The stock had previously closed at $196.67.
The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. Air Products & Chemicals’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.71 EPS.
A number of research firms have issued reports on APD. BMO Capital Markets increased their price target on Air Products & Chemicals from $215.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their price target for the company from $170.00 to $215.00 in a research report on Thursday. Deutsche Bank increased their price target on Air Products & Chemicals from $182.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. Vertical Research lowered Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Zacks Investment Research lowered Air Products & Chemicals from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. Air Products & Chemicals presently has a consensus rating of “Buy” and a consensus price target of $205.64.
A number of hedge funds have recently bought and sold shares of the business. LPL Financial LLC increased its position in Air Products & Chemicals by 12.0% in the 3rd quarter. LPL Financial LLC now owns 16,193 shares of the basic materials company’s stock valued at $2,705,000 after acquiring an additional 1,738 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Air Products & Chemicals during the third quarter worth $1,950,000. TIAA CREF Investment Management LLC increased its position in shares of Air Products & Chemicals by 1.7% during the third quarter. TIAA CREF Investment Management LLC now owns 678,846 shares of the basic materials company’s stock worth $113,401,000 after buying an additional 11,632 shares during the period. Beaton Management Co. Inc. acquired a new stake in shares of Air Products & Chemicals during the third quarter worth $207,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of Air Products & Chemicals during the third quarter worth $330,000. 87.47% of the stock is currently owned by institutional investors.
The company has a current ratio of 2.21, a quick ratio of 2.03 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $43.19 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82.
Air Products & Chemicals Company Profile (NYSE:APD)
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, 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 refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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