Air Products & Chemicals Downgraded by BGC Financial to Hold (APD)

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Air Products & Chemicals (NYSE:APD) was downgraded by analysts at BGC Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $122.00 target price on the stock. BGC Financial’s target price indicates a potential upside of 2.94% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on APD. Analysts at Zacks reiterated a “neutral” rating on shares of Air Products & Chemicals in a research note on Thursday, May 8th. They now have a $126.00 price target on the stock. Separately, analysts at Atlantic Securities downgraded shares of Air Products & Chemicals from a “neutral” rating to an “underweight” rating in a research note on Monday, April 28th. They now have a $110.00 price target on the stock, down previously from $125.00. Finally, analysts at Susquehanna raised their price target on shares of Air Products & Chemicals from $98.00 to $125.00 in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Air Products & Chemicals currently has an average rating of “Hold” and a consensus target price of $115.79.

Shares of Air Products & Chemicals (NYSE:APD) opened at 118.51 on Tuesday. Air Products & Chemicals has a 52 week low of $90.12 and a 52 week high of $124.40. The stock’s 50-day moving average is $118.1 and its 200-day moving average is $114.0. The company has a market cap of $25.157 billion and a P/E ratio of 25.32.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Wednesday, April 23rd. The company reported $1.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.35 by $0.03. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Air Products & Chemicals will post $5.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, August 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, June 27th.

Air Products and Chemicals, Inc has a portfolio of products, services, and solutions that include atmospheric gases, process and specialty gases, performance materials, equipment, and services.

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