Air Products and Chemicals (NYSE:APD) Cut to “Neutral” at Bank of America

Air Products and Chemicals (NYSE:APD) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $350.00 target price on the basic materials company’s stock. Bank of America‘s target price points to a potential upside of 6.29% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $330.00 to $350.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Monday, November 18th. Citigroup boosted their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Mizuho lifted their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $337.88.

Air Products and Chemicals Stock Up 1.6 %

APD stock opened at $329.29 on Monday. The company has a market cap of $73.23 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.16 and a beta of 0.84. The firm has a 50-day moving average of $310.14 and a two-hundred day moving average of $297.05. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72.

Institutional Trading of Air Products and Chemicals

A number of large investors have recently modified their holdings of APD. Pathway Financial Advisers LLC grew its stake in Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares in the last quarter. ING Groep NV grew its position in shares of Air Products and Chemicals by 240.7% during the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after buying an additional 723,019 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Air Products and Chemicals by 318.7% during the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after buying an additional 722,132 shares during the period. Van ECK Associates Corp raised its holdings in Air Products and Chemicals by 1,685.4% in the third quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after acquiring an additional 721,671 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Air Products and Chemicals by 29,957.6% in the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock worth $2,138,000,000 after acquiring an additional 715,686 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Company Profile

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.