Jefferies Group set a $186.00 target price on Praxair (NYSE:PX) in a report released on Monday morning. The firm currently has a buy rating on the basic materials company’s stock. Jefferies Group also issued estimates for Praxair’s FY2018 earnings at $6.35 EPS, FY2019 earnings at $6.85 EPS and FY2020 earnings at $7.50 EPS.
Several other equities research analysts have also issued reports on the company. J P Morgan Chase & Co lifted their price target on Praxair from $145.00 to $172.00 and gave the company an overweight rating in a report on Friday, November 17th. Zacks Investment Research upgraded Praxair from a hold rating to a buy rating and set a $165.00 target price for the company in a report on Monday, November 6th. Susquehanna Bancshares upgraded Praxair from a neutral rating to a positive rating and boosted their target price for the stock from $131.00 to $155.00 in a report on Thursday, September 7th. Argus upgraded Praxair from a hold rating to a buy rating and set a $171.00 target price for the company in a report on Monday, November 13th. Finally, UBS upgraded Praxair from a neutral rating to a positive rating in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $156.15.
Shares of Praxair (PX) opened at $149.14 on Monday. Praxair has a 1 year low of $115.00 and a 1 year high of $156.40. The company has a market capitalization of $43,310.00, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $1.41 EPS. equities analysts predict that Praxair will post 5.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio is presently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Federated Investors Inc. PA boosted its stake in Praxair by 47.3% in the second quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock worth $1,333,000 after purchasing an additional 3,228 shares in the last quarter. Seven Eight Capital LP acquired a new position in Praxair in the second quarter worth $1,286,000. Mosaic Family Wealth LLC boosted its stake in Praxair by 6.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 77 shares in the last quarter. Coho Partners Ltd. boosted its stake in Praxair by 776.9% in the second quarter. Coho Partners Ltd. now owns 16,073 shares of the basic materials company’s stock worth $2,130,000 after purchasing an additional 14,240 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Praxair by 14.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,458 shares of the basic materials company’s stock worth $1,042,000 after purchasing an additional 962 shares in the last quarter. 86.43% of the stock is currently owned by institutional investors and hedge funds.
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Praxair Company Profile
Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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