Allentown, Pennsylvania-based Air Products and Chemicals, Inc. (APD) operates as a leading industrial gases company providing atmospheric gases, process and specialty gases, equipment, and related services. With a market cap of $70.4 billion, Air Products’ operations span the Americas, Indo-Pacific, Europe, and the Middle East.
Companies worth $10 billion or more are generally described as “large-cap stocks,” APD fits this bill perfectly. Given the company’s extensive operations and dominance in the materials sector, its valuation above this mark is not surprising.
APD recently touched its all-time high of $341.14 on Feb. 4 and is currently trading 7.2% below that peak. Meanwhile, APD dipped 1.2% over the past three months, performing slightly better than iShares U.S. Basic Materials ETF’s (IYM) 3.8% decline during the same time frame.
Over the longer term, APD’s performance looks much more appealing. APD soared 17.8% over the past six months and 29.1% over the past 52 weeks, outpacing IYM’s 38 basis point dip over the past six months and a 3.2% decline over the past year.
To confirm the bullish trend, APD has traded consistently above its 200-day moving average since late July 2024 and above its 50-day moving average since mid-January with some fluctuations.
Air Products and Chemicals’ stock prices dropped 1.5% after the release of its mixed Q1 results on Feb. 6. While the company’s topline was positively impacted due to higher pricing, this positive impact was more than reversed by lower volumes and forex translation losses. Its overall sales for the quarter decreased 2.2% year-over-year to $2.9 billion, missing the Street’s expectations by a notable margin. On the brighter side, APD’s adjusted EPS inched up 1.4% year-over-year to $2.86, matching analysts’ consensus estimates.
Meanwhile, Air Products and Chemicals has also outperformed its peer DuPont de Nemours, Inc.’s (DD) 1.3% decline over the past six months and 9.8% gains over the past 52-week period.
Among the 22 analysts covering the APD stock, the consensus rating is a “Moderate Buy.” Its mean price target of $353.35 represents an 11.7% upside potential from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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