Today, HSBC Begins Coverage on Air Products and Chemicals Inc. (APD)

Today, HSBC Begins Coverage on Air Products and Chemicals Inc. (APD)

Analysts at HSBC began coverage on shares of Air Products and Chemicals Inc. (NYSE:APD) in a research report issued on Tuesday. The brokerage set a “hold” rating and a $140.00 price target on the stock. HSBC’s price objective would indicate a potential downside of 1.09% from the company’s previous close.

Several other research firms have also recently commented on APD. Credit Suisse Group AG set a $163.00 price target on shares of Air Products and Chemicals and gave the company a “buy” rating in a research note on Monday, September 12th. Atlantic Securities raised shares of Air Products and Chemicals from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $125.00 to $135.00 in a research note on Friday, September 30th. Zacks Investment Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research note on Monday, August 1st. JPMorgan Chase & Co. raised shares of Air Products and Chemicals from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $160.00 in a research note on Friday, August 12th. Finally, Argus raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $150.33.

Shares of Air Products and Chemicals (NYSE:APD) traded down 0.82% during trading on Tuesday, reaching $140.62. The company’s stock had a trading volume of 102,336 shares. Air Products and Chemicals has a 1-year low of $106.05 and a 1-year high of $146.01. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 48.66 and a beta of 1.24. The company’s 50-day moving average price is $135.80 and its 200 day moving average price is $136.32.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, October 27th. The company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.03. Air Products and Chemicals had a net margin of 6.63% and a return on equity of 22.74%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. Air Products and Chemicals’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that Air Products and Chemicals will post $6.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 13th. Investors of record on Tuesday, January 3rd will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.43%. Air Products and Chemicals’s payout ratio is 119.03%.

Several large investors have recently modified their holdings of the company. SevenBridge Financial Group LLC increased its position in Air Products and Chemicals by 22.2% in the third quarter. SevenBridge Financial Group LLC now owns 9,232 shares of the company’s stock worth $1,221,000 after buying an additional 1,679 shares during the period. ETRADE Capital Management LLC acquired a new position in Air Products and Chemicals during the third quarter worth $466,000. D.A. Davidson & CO. increased its position in Air Products and Chemicals by 27.6% in the third quarter. D.A. Davidson & CO. now owns 1,018 shares of the company’s stock worth $152,000 after buying an additional 220 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Air Products and Chemicals during the third quarter worth $6,118,000. Finally, Garde Capital Inc. acquired a new position in Air Products and Chemicals during the third quarter worth $748,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

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