Airgas (NYSE: ARG) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $94.00 target price on the stock, up from their previous target price of $92.00. The analysts noted that the move was a valuation call.
Airgas (NYSE: ARG) traded down 0.75% on Monday, hitting $97.28. Airgas has a 1-year low of $76.01 and a 1-year high of $103.83. The stock’s 50-day moving average is currently $99.39. The company has a market cap of $7.385 billion and a price-to-earnings ratio of 22.53.
Airgas (NYSE: ARG) last posted its quarterly earnings results on Thursday, January 24th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by $0.03. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Airgas has set its Q4 guidance at $1.18-1.24 EPS and its FY13 guidance at $4.40-4.46 EPS. On average, analysts predict that Airgas will post $4.40 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of Airgas from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, March 14th. They now have a $100.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Airgas in a research note to investors on Monday, January 28th. They now have a $107.00 price target on the stock, up previously from $100.00. Finally, analysts at BB&T reiterated a “buy” rating on shares of Airgas in a research note to investors on Friday, January 25th. They now have a $107.00 price target on the stock.
One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Airgas has a consensus rating of “Hold” and a consensus target price of $103.71.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is a distributor of industrial, medical and specialty gases (delivered in packaged or cylinder form), and hardgoods, such as welding equipment and supplies.