Praxair (NYSE:PX) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $179.00 to $180.00 in a report issued on Friday. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 12.63% from the stock’s current price.
A number of other research firms also recently weighed in on PX. Citigroup decreased their target price on shares of Praxair from $188.00 to $163.00 and set a “buy” rating for the company in a research report on Tuesday, April 10th. ValuEngine downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. TheStreet raised shares of Praxair from a “c+” rating to an “a-” rating in a research report on Thursday, April 26th. Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, BMO Capital Markets started coverage on shares of Praxair in a research report on Tuesday, March 27th. They set a “market perform” rating and a $159.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $174.50.
Shares of Praxair stock traded down $1.73 on Friday, hitting $159.82. The stock had a trading volume of 579,488 shares, compared to its average volume of 1,210,862. Praxair has a twelve month low of $127.36 and a twelve month high of $166.95. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.94 and a quick ratio of 0.77. The company has a market capitalization of $46.08 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.06 and a beta of 1.08.
Several institutional investors have recently bought and sold shares of PX. Private Capital Group LLC boosted its holdings in shares of Praxair by 394.0% during the 1st quarter. Private Capital Group LLC now owns 741 shares of the basic materials company’s stock worth $107,000 after buying an additional 591 shares in the last quarter. Institutional & Family Asset Management LLC bought a new position in shares of Praxair during the 1st quarter worth approximately $137,000. M&R Capital Management Inc. boosted its holdings in shares of Praxair by 366.5% during the 4th quarter. M&R Capital Management Inc. now owns 933 shares of the basic materials company’s stock worth $144,000 after buying an additional 733 shares in the last quarter. Signaturefd LLC bought a new position in shares of Praxair during the 1st quarter worth approximately $147,000. Finally, Cornerstone Advisors Inc. boosted its holdings in shares of Praxair by 123.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,042 shares of the basic materials company’s stock worth $150,000 after buying an additional 575 shares in the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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