Praxair Inc. (NYSE:PX)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a research report issued on Friday. They presently have a $140.00 target price on the stock. Jefferies Group’s price target would suggest a potential upside of 17.79% from the company’s current price.
Several other research analysts have also weighed in on the stock. Morgan Stanley began coverage on shares of Praxair in a research note on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 price objective on the stock. TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Argus reiterated a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Credit Agricole SA increased their price target on shares of Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $118.57.
Praxair (NYSE:PX) opened at 118.86 on Friday. The firm’s 50 day moving average price is $119.82 and its 200 day moving average price is $115.52. Praxair has a one year low of $95.60 and a one year high of $125.00. The stock has a market cap of $33.90 billion, a price-to-earnings ratio of 21.64 and a beta of 0.90.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.60 billion. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. Equities analysts forecast that Praxair will post $5.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio is currently 54.55%.
A number of institutional investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd purchased a new position in shares of Praxair during the second quarter valued at about $101,000. Carnick & Kubik LLC bought a new stake in Praxair during the first quarter valued at $109,000. SevenBridge Financial Group LLC bought a new stake in Praxair during the second quarter valued at $118,000. Quadrant Capital Group LLC boosted its stake in Praxair by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,168 shares of the company’s stock valued at $126,000 after buying an additional 11 shares during the last quarter. Finally, High Point Bank & Trust Co. boosted its stake in Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock valued at $140,000 after buying an additional 250 shares during the last quarter. 83.78% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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