November 29, 2016 - By Ellis Scott
Analysts at HSBC began coverage on Praxair (NYSE:PX) with a “Hold” rating. The target for PX is $113.00. It would indicate a potential downside of -7.19% from firm’s last stock price.
Out of 15 analysts covering Praxair (NYSE:PX), 3 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 20% are positive. $135 is the highest target while $103 is the lowest. The $119.08 average target is -2.20% below today’s ($121.76) stock price. Praxair has been the topic of 20 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock has “Accumulate” rating given by Seaport Global Securities on Wednesday, January 13. Deutsche Bank downgraded Praxair, Inc. (NYSE:PX) rating on Monday, April 4. Deutsche Bank has “Hold” rating and $120 price target. As per Thursday, March 24, the company rating was reinitiated by Credit Suisse. The firm earned “Underperform” rating on Friday, January 22 by Bank of America. The rating was upgraded by Zacks to “Sell” on Friday, August 28. The firm has “Neutral” rating by Citigroup given on Monday, April 18. Zacks upgraded Praxair, Inc. (NYSE:PX) on Wednesday, August 12 to “Sell” rating. The firm has “Equal Weight” rating given on Monday, May 2 by Barclays Capital. On Tuesday, February 2 the stock rating was downgraded by KeyBanc Capital Markets to “Sector Weight”. The stock of Praxair, Inc. (NYSE:PX) has “Neutral” rating given on Wednesday, October 7 by Susquehanna.
About 1.91 million shares traded hands or 85.44% up from the average. Praxair, Inc. (NYSE:PX) has declined 0.61% since April 26, 2016 and is downtrending. It has underperformed by 5.87% the S&P500.
Analysts await Praxair, Inc. (NYSE:PX) to report earnings on February, 3. They expect $1.41 earnings per share, down 4.08% or $0.06 from last year’s $1.47 per share. PX’s profit will be $401.12M for 21.60 P/E if the $1.41 EPS becomes a reality. After $1.41 actual earnings per share reported by Praxair, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.25, from 1.17 in 2016Q1. The ratio dropped, as 53 funds sold all Praxair, Inc. shares owned while 258 reduced positions. 59 funds bought stakes while 305 increased positions. They now own 235.46 million shares or 6.33% less from 251.38 million shares in 2016Q1.
Charter Tru holds 2,486 shares or 0.03% of its portfolio. Great Lakes Limited Liability Corp holds 13,169 shares or 0.04% of its portfolio. The Tennessee-based Livingston Gru Asset Mngmt (Operating As Southport Management) has invested 0.02% in Praxair, Inc. (NYSE:PX). Donaldson Lc reported 2,793 shares or 0.04% of all its holdings. State Of Tennessee Treasury Department has 110,249 shares for 0.06% of their US portfolio. Mutual Ins Federation Of Agricultural Cooperatives owns 8,900 shares or 0.03% of their US portfolio. The New York-based Tompkins Financial has invested 0.06% in Praxair, Inc. (NYSE:PX). The Missouri-based Commerce State Bank has invested 0.06% in Praxair, Inc. (NYSE:PX). Louisiana State Employees Retirement holds 0.11% or 18,700 shares in its portfolio. Blackrock Institutional Na last reported 7.45 million shares in the company. Catawba Va, a Virginia-based fund reported 7,155 shares. Atlanta Capital Mgmt L L C accumulated 631,205 shares or 0.47% of the stock. Groesbeck Inv Mngmt Corp Nj last reported 4,325 shares in the company. Moreover, Mercer Capital Advisers Incorporated has 0.07% invested in Praxair, Inc. (NYSE:PX) for 755 shares. Lpl Ltd Llc holds 0% or 2,719 shares in its portfolio.
Insider Transactions: Since October 31, 2016, the stock had 0 buys, and 3 sales for $12.69 million net activity. The insider ANGEL STEPHEN F sold $9.92 million. LEBOEUF RAYMOND W also sold $768,073 worth of Praxair, Inc. (NYSE:PX) shares. Roby Anne K sold $2.01 million worth of stock or 17,103 shares.
Praxair, Inc. is an industrial gas supplier in North and South America, Asia and Europe. The company has a market cap of $34.64 billion. The Company’s activities are organized into five divisions, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. It has a 23.07 P/E ratio. In addition, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc., which represents the fifth segment.
According to Zacks Investment Research, “Praxair is one of the largest industrial gases companies in North and South America. Praxair’s primary products for its industrial gases business are atmospheric gases and process gases. The company’s surface technology segment, operated through Praxair Surface Technologies, Inc., supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders. The company also designs, engineers and builds equipment that produces industrial gases through its global supply systems.”
Praxair, Inc., incorporated on October 26, 1988, is an industrial gas supplier in North and South America, Asia and Europe. The Company’s activities are organized into five divisions, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc., which represents the fifth segment. The Company’s products in its industrial gases business include atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene). The Firm also designs, engineers and manufactures equipment that produces industrial gases primarily for internal use. The Company’s Surface Technologies segment, operated through Praxair Surface Technologies, Inc., supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders. The Firm serves a group of industries, including healthcare, petroleum refining, computer-chip manufacturing, beverage carbonation, fiber-optics, steel making, aerospace, chemicals and water treatment.
Another recent and important Praxair, Inc. (NYSE:PX) news was published by Wsj.com which published an article titled: “Praxair Approaches Linde About Resuming Deal Talks” on November 29, 2016.
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By Ellis Scott