Bernstein Reiterates Buy Rating on Air Products and Chemicals
Bernstein maintains its buy rating on Air Products and Chemicals with a $344 price target, a 14.07% upside from the current price.
Key Points
- Bernstein reiterated its buy rating on Air Products and Chemicals, setting a price target of $344 on July 1, 2026.
- Bernstein's $344 price target implies 14.07% upside from Air Products and Chemicals, Inc.'s ($APD) current $301.56 share price.
- Shares of NYSE:APD traded near $301.56 on Wednesday with a market cap of approximately $65.3 billion.
- Recent institutional activity saw Vanguard Capital Management opening a new position, while State Street Corp increased its holdings by 198,991 shares.
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Bernstein has reiterated its buy rating on Air Products and Chemicals, Inc. (NYSE:APD) with a price target of $344. This affirmation by analyst James Hooper was made on July 1, 2026. The stock traded near $301.56 on Wednesday.
Bernstein vs. the S&P 500
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Other Institutional Activity in Air Products and Chemicals
Several institutional investors have recently adjusted their positions in Air Products and Chemicals. Vanguard Capital Management LLC opened a new position with 14,467,316 shares valued at approximately $4.2 billion. State Street Corp increased its holdings by 198,991 shares, ending with 10,110,495 shares worth around $2.94 billion, marking a 2.0% increase. In contrast, Capital Research Global Investors reduced its stake by 1,494,027 shares, bringing its total to 10,410,510 shares, valued at about $3.02 billion, a 12.6% decrease.
Air Products and Chemicals, Inc. Stock Down 2.1%
Shares of NYSE:APD traded near $301.56 on Wednesday. Air Products and Chemicals has a market capitalization of approximately $65.3 billion. The company's P/E ratio stands at 30.9, with a forward P/E of 20.6 and a beta of 0.747. The stock's 52-week range is between $229.11 and $307.96, with a 50-day moving average of $289.77 and a 200-day moving average of $273.64. The company maintains a current ratio of 1.43 and a quick ratio of 0.99, with a debt-to-equity ratio of 101.61.
$APD price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Air Products and Chemicals reported revenues of approximately $12.46 billion, reflecting a growth of 8.8%. The company's earnings per share were $9.50, with a net margin of 16.9% and a return on equity of 12.4%. The next earnings report is expected on July 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 3.4%. Revenue beat estimates by 2.4%.
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Profit surprise
EBITDA met by 1 percent. Operating income beat by 20 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
5 target raises.
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Earnings quality
Gross margin up 1.6 points. Operating margin up 103.6 points. Positive free cash flow.
Earnings Call Summary
The quarter delivered strong underlying results with adjusted operating income up 12 percent and margins expanding to 24.4 percent despite sluggish economic conditions. Pricing actions and productivity drove gains across segments, though helium sales fell about 4 percent for the year due to tough prior-year comparisons. Management remains focused on disciplined capital spending, the Darrow ammonia project negotiations with Yara, and bringing new assets online in electronics and aerospace sectors.
Guidance Air Products kept its full-year profit guidance at $12.85 to $13.15 per share, expecting 7 to 9 percent growth. For the next quarter, they said earnings would be $2.95 to $3.10 per share, about 10 to 15 percent higher than last year. The company faces helium weakness but sees pricing gains offsetting that.
Good report. The company beat and showed some forward improvement, with a few meaningful caveats.
Dividend
Air Products and Chemicals pays an annual dividend rate of $7.24, yielding 2.47%. The dividend payout ratio is 75.66%.
Insider Buying and Selling at Air Products and Chemicals, Inc.
On May 1, 2026, Melissa Schaeffer, Executive Vice President and CFO, sold 2,714 shares at an average price of $303.76. Earlier in February, Mantle Ridge LP executed several transactions, including selling 70,175 shares at $284.21.
Analysts Set New Price Targets
On July 1, 2026, Bernstein maintained its buy rating with a $344 price target for Air Products and Chemicals. Other recent analyst actions include Morgan Stanley maintaining a hold rating with a $310 target, and RBC Capital maintaining a buy rating with a $341 target, both on May 5, 2026. The consensus among analysts is a buy rating, with a mean price target of $327.86 based on 21 analyst opinions.
About Air Products and Chemicals
Air Products and Chemicals, Inc. is a major player in the specialty chemicals industry, providing atmospheric and process gases, as well as related equipment and services globally. Founded in 1940, the company is headquartered in Allentown, Pennsylvania, and is led by CEO Eduardo F. Menezes. With a workforce of over 21,000 employees, Air Products serves a variety of industries, including refining, chemical, electronics, energy production, and steel manufacturing.
Bottom Line
Bernstein's reiterated buy rating and the $344 price target highlight continued confidence in Air Products and Chemicals. Investors keep a close eye on such analyst ratings as they can influence stock performance. The report underscores the backward-looking nature of 13F filings and the importance of monitoring institutional and insider activities.
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