Traders Buy Praxair (PX) on Weakness

Investors bought shares of Praxair, Inc. (NYSE:PX) on weakness during trading on Tuesday. $75.88 million flowed into the stock on the tick-up and $47.89 million flowed out of the stock on the tick-down, for a money net flow of $27.99 million into the stock. Of all companies tracked, Praxair had the 19th highest net in-flow for the day. Praxair traded down ($1.39) for the day and closed at $159.23

Several brokerages have recently commented on PX. Raymond James Financial restated an “outperform” rating on shares of Praxair in a research report on Tuesday. UBS Group downgraded shares of Praxair from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Deutsche Bank upgraded shares of Praxair from a “hold” rating to a “buy” rating and raised their price objective for the company from $155.00 to $175.00 in a research report on Tuesday, December 19th. Finally, Jefferies Group set a $186.00 price objective on shares of Praxair and gave the company a “buy” rating in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. Praxair presently has an average rating of “Buy” and a consensus target price of $159.86.

The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $45,590.00, a price-to-earnings ratio of 28.33, a PEG ratio of 2.22 and a beta of 1.00.

Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm posted $1.41 EPS. Praxair’s revenue for the quarter was up 7.6% compared to the same quarter last year. analysts forecast that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.

In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

Large investors have recently modified their holdings of the business. Kistler Tiffany Companies LLC grew its stake in shares of Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after buying an additional 430 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in shares of Praxair in the 2nd quarter worth $106,000. Cerebellum GP LLC purchased a new position in shares of Praxair in the 4th quarter worth $128,000. Accident Compensation Corp purchased a new position in shares of Praxair in the 3rd quarter worth $140,000. Finally, San Francisco Sentry Investment Group CA grew its stake in shares of Praxair by 2,171.1% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock worth $143,000 after buying an additional 977 shares in the last quarter. 85.54% of the stock is owned by institutional investors and hedge funds.

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About Praxair

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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