Praxair (PX) PT Raised to $172.00

Praxair (NYSE:PX) had its price target upped by J P Morgan Chase & Co from $145.00 to $172.00 in a report published on Friday, November 17th, The Fly reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other research analysts have also recently commented on PX. Zacks Investment Research upgraded Praxair from a sell rating to a hold rating in a research note on Tuesday, July 25th. BidaskClub cut Praxair from a buy rating to a hold rating in a research note on Tuesday, July 25th. KeyCorp reiterated a hold rating on shares of Praxair in a research note on Sunday, September 3rd. UBS upgraded Praxair from a neutral rating to a positive rating in a research note on Thursday, September 7th. Finally, Susquehanna Bancshares upgraded Praxair from a neutral rating to a positive rating and increased their price objective for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $154.31.

Praxair (NYSE PX) traded down $1.90 during trading hours on Friday, reaching $150.39. The company’s stock had a trading volume of 1,421,247 shares, compared to its average volume of 1,337,728. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. Praxair has a one year low of $115.00 and a one year high of $156.40. The firm has a market capitalization of $43,907.78, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00.

Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. equities analysts predict that Praxair will post 5.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is presently 56.05%.

In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the sale, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of PX. KCG Holdings Inc. grew its holdings in shares of Praxair by 118.3% during the first quarter. KCG Holdings Inc. now owns 13,664 shares of the basic materials company’s stock worth $1,621,000 after purchasing an additional 7,404 shares during the last quarter. Dynamic Capital Management Ltd grew its holdings in shares of Praxair by 33.5% during the first quarter. Dynamic Capital Management Ltd now owns 7,450 shares of the basic materials company’s stock worth $884,000 after buying an additional 1,871 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Praxair by 4.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 930,256 shares of the basic materials company’s stock worth $110,329,000 after buying an additional 36,644 shares during the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. grew its holdings in shares of Praxair by 6.7% during the first quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 1,356,369 shares of the basic materials company’s stock worth $160,654,000 after buying an additional 85,100 shares during the last quarter. Finally, Logan Capital Management Inc. grew its holdings in shares of Praxair by 0.9% during the first quarter. Logan Capital Management Inc. now owns 8,505 shares of the basic materials company’s stock worth $1,009,000 after buying an additional 72 shares during the last quarter. Institutional investors own 86.43% of the company’s stock.

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About Praxair

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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