Air Products and Chemicals (NYSE:APD) Lowered to Neutral Rating by Bank of America

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

APD has been the topic of a number of other research reports. Vertical Research raised 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 report on Monday, October 7th. Mizuho boosted 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. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Citigroup boosted their target price on 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, BMO Capital Markets raised their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $337.88.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $329.29 on Monday. The stock’s 50-day simple moving average is $310.14 and its 200-day simple moving average is $297.05. The firm has a market capitalization of $73.23 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 3.16 and a beta of 0.84. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $337.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Air Products and Chemicals by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock valued at $1,448,570,000 after acquiring an additional 88,806 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after purchasing an additional 2,884,581 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Air Products and Chemicals by 1.7% in the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock valued at $608,312,000 after purchasing an additional 33,313 shares during the period. Clearbridge Investments LLC boosted its holdings in Air Products and Chemicals by 25.2% during the second quarter. Clearbridge Investments LLC now owns 1,936,582 shares of the basic materials company’s stock worth $499,735,000 after buying an additional 389,380 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Air Products and Chemicals by 3.9% during the third quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock worth $555,967,000 after buying an additional 70,759 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

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.