Citigroup Boosts Air Products and Chemicals (NYSE:APD) Price Target to $365.00

Air Products and Chemicals (NYSE:APD) had its price target upped by Citigroup from $345.00 to $365.00 in a report issued on Monday,Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.

Several other research firms also recently commented on APD. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $305.00 to $365.00 in a report on Monday, October 7th. Mizuho increased their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Finally, Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $328.18.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $313.91 on Monday. The company has a market capitalization of $69.79 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.46 and a beta of 0.81. The company’s 50-day simple moving average is $302.27 and its two-hundred day simple moving average is $278.09. Air Products and Chemicals has a one year low of $212.24 and a one year high of $332.42. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.10.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APD. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of Air Products and Chemicals by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after acquiring an additional 34 shares during the period. CX Institutional increased its holdings in shares of Air Products and Chemicals by 2.6% in the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 34 shares during the period. Bank of Stockton increased its holdings in shares of Air Products and Chemicals by 1.9% in the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 34 shares during the period. Cape Investment Advisory Inc. lifted its holdings in shares of Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after purchasing an additional 37 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.