Argus Cuts Air Products & Chemicals to Hold (APD)

By admin | 6 years ago

Air Products & Chemicals (NYSE: APD) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a report released on Tuesday.

Shares of Air Products & Chemicals opened at 86.12 on Tuesday. Air Products & Chemicals has a one year low of $72.26 and a one year high of $98.00. The company has a market cap of $18.180 billion and a P/E ratio of 15.50.

The company last announced its quarterly results on Tuesday, April 24th. It reported $1.31 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $1.35 EPS by $0.04. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts predict that Air Products & Chemicals will post $1.55 earnings per share next quarter.

A number of other analysts have also recently weighed in on APD. Analysts at Citigroup (NYSE: C) downgraded shares of Air Products & Chemicals from a “buy” rating to a “neutral” rating in a research note to investors on Friday, April 27th. They now have a $95.00 price target on the stock. Separately, analysts at Morgan Stanley (NYSE: MS) cut their price target on shares of Air Products & Chemicals from $95.00 to $92.00 in a research note to investors on Thursday, April 26th. Finally, analysts at Morgan Stanley (NYSE: MS) upgraded shares of Air Products & Chemicals from an “underweight” rating to an “equal weight” rating in a research note to investors on Thursday, April 26th. They now have a $92.00 price target on the stock.

Air Products and Chemicals, Inc. serves energy, electronics, chemicals, steel, and manufacturing customers globally with a portfolio of products, services, and solutions that include atmospheric gases, process and specialty gases, performance materials, equipment, and services.

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