Praxair (NYSE:PX) has been assigned a $186.00 price objective by investment analysts at Jefferies Group in a research report issued to clients and investors on Monday, December 11th. The brokerage currently has a “buy” rating on the basic materials company’s stock. Jefferies Group’s price target indicates a potential upside of 19.09% from the stock’s previous close. Jefferies Group also issued estimates for Praxair’s FY2018 earnings at $6.35 EPS, FY2019 earnings at $6.85 EPS and FY2020 earnings at $7.50 EPS.
Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Susquehanna Bancshares upped their price target on shares of Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Barclays upped their price objective on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Finally, SunTrust Banks restated a “buy” rating and issued a $162.00 price objective on shares of Praxair in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $158.64.
Praxair (NYSE PX) traded up $1.31 during mid-day trading on Monday, reaching $156.19. 1,070,000 shares of the company’s stock were exchanged, compared to its average volume of 1,850,000. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. Praxair has a fifty-two week low of $115.00 and a fifty-two week high of $156.40. The stock has a market cap of $44,720.00, a PE ratio of 27.79, a PEG ratio of 2.31 and a beta of 1.00.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS. sell-side analysts forecast that Praxair will post 5.81 earnings per share for the current fiscal year.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Praxair by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock worth $2,757,471,000 after purchasing an additional 523,022 shares during the period. Capital World Investors grew its holdings in shares of Praxair by 4.3% in the second quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after purchasing an additional 716,835 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Praxair by 1.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock worth $683,156,000 after buying an additional 77,300 shares during the period. Egerton Capital UK LLP boosted its stake in Praxair by 24.0% during the third quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after buying an additional 655,456 shares during the period. Finally, Capital International Investors boosted its stake in Praxair by 9.6% during the third quarter. Capital International Investors now owns 2,981,701 shares of the basic materials company’s stock worth $416,663,000 after buying an additional 262,050 shares during the period. 85.48% of the stock is currently owned by hedge funds and other institutional investors.
Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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