Praxair’s (PX) Buy Rating Reaffirmed at SunTrust Banks, Inc. – Dispatch Tribunal


SunTrust Banks, Inc. restated their buy rating on shares of Praxair, Inc. (NYSE:PX) in a research report sent to investors on Friday morning. The firm currently has a $162.00 price objective on the basic materials company’s stock. SunTrust Banks also issued estimates for Praxair’s FY2017 earnings at $5.82 EPS and FY2018 earnings at $6.27 EPS.

A number of other equities research analysts also recently weighed in on the stock. Susquehanna Bancshares Inc raised shares of Praxair from a neutral rating to a positive rating and boosted their price objective for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. Zacks Investment Research downgraded shares of Praxair from a buy rating to a hold rating in a research report on Tuesday, August 1st. UBS AG raised shares of Praxair from a neutral rating to a positive rating in a research report on Thursday, September 7th. KeyCorp reaffirmed a hold rating on shares of Praxair in a research report on Sunday, September 3rd. Finally, BidaskClub raised shares of Praxair from a hold rating to a buy rating in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $143.92.

Shares of Praxair (NYSE:PX) traded down 0.98% during midday trading on Friday, hitting $148.14. 2,127,113 shares of the stock traded hands. The stock has a market cap of $42.37 billion, a price-to-earnings ratio of 27.74 and a beta of 0.95. Praxair has a one year low of $114.43 and a one year high of $149.91. The firm has a 50-day moving average price of $139.88 and a 200 day moving average price of $132.96.

Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Praxair will post $5.47 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be given a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is 56.05%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sandy Spring Bank grew its position in Praxair by 31.2% in the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 200 shares during the last quarter. Parallel Advisors LLC grew its position in Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the last quarter. Kistler Tiffany Companies LLC grew its position in Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 430 shares during the last quarter. BB&T Investment Services Inc. bought a new position in Praxair in the 2nd quarter worth about $106,000. Finally, Exane Derivatives bought a new position in Praxair in the 2nd quarter worth about $109,000. Hedge funds and other institutional investors own 85.28% of the company’s stock.

Praxair Company Profile

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.

Analyst Recommendations for Praxair (NYSE:PX)




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