New Buy Rating for Air Products and Chemicals (APD), the Basic Materials Giant

Goldman Sachs analyst Duffy Fischer reiterated a Buy rating on Air Products and Chemicals on February 20 and set a price target of $325.00.

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According to TipRanks, Fischer is a 5-star analyst with an average return of 12.7% and a 62.84% success rate. Fischer covers the Basic Materials sector, focusing on stocks such as Huntsman, TRONOX, and Air Products and Chemicals.

In addition to Goldman Sachs, Air Products and Chemicals also received a Buy from Bernstein’s James Hooper in a report issued on February 18. However, on February 13, Morgan Stanley maintained a Hold rating on Air Products and Chemicals (NYSE: APD).

Based on Air Products and Chemicals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.1 billion and a net profit of $678.2 million. In comparison, last year the company earned a revenue of $2.93 billion and had a net profit of $617.4 million

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APD in relation to earlier this year.