ValuEngine upgraded shares of Praxair (NYSE:PX) from a hold rating to a buy rating in a research note released on Friday.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Praxair from a hold rating to a buy rating and set a $179.00 price objective for the company in a research report on Monday, May 21st. BMO Capital Markets initiated coverage on shares of Praxair in a research note on Tuesday, March 27th. They issued a market perform rating and a $159.00 price target on the stock. Citigroup increased their price objective on shares of Praxair from $163.00 to $177.00 and gave the company a buy rating in a report on Monday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Praxair from $179.00 to $180.00 and gave the company an overweight rating in a report on Friday, June 15th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $174.67.
Praxair traded up $1.47, reaching $158.15, during trading on Friday, MarketBeat Ratings reports. 1,390,956 shares of the company’s stock were exchanged, compared to its average volume of 1,317,225. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 1.07. Praxair has a 52-week low of $127.36 and a 52-week high of $166.95. The stock has a market cap of $44.99 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 2.02 and a beta of 1.08.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, April 26th. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. Praxair had a net margin of 11.27% and a return on equity of 26.91%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.93 billion. analysts forecast that Praxair will post 6.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, June 7th were paid a $0.825 dividend. The ex-dividend date was Wednesday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 2.09%. Praxair’s payout ratio is presently 56.41%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PX. Private Capital Group LLC boosted its position in shares of Praxair by 394.0% during the 1st quarter. Private Capital Group LLC now owns 741 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 591 shares in the last quarter. Institutional & Family Asset Management LLC bought a new position in Praxair during the 1st quarter valued at about $137,000. M&R Capital Management Inc. raised its stake in shares of Praxair by 366.5% in the fourth quarter. M&R Capital Management Inc. now owns 933 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 733 shares during the last quarter. Signaturefd LLC bought a new position in shares of Praxair in the first quarter worth about $147,000. Finally, Cornerstone Advisors Inc. raised its stake in shares of Praxair by 123.1% in the first quarter. Cornerstone Advisors Inc. now owns 1,042 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 575 shares during the last quarter. Institutional investors own 85.99% of the company’s stock.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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