ALLENTOWN, PA—Hababou Ahmed, President of Middle East & India at Air Products & Chemicals, Inc. (NYSE:APD), recently sold 1,608 shares of the company’s common stock. The shares were sold at an average price of $307.97 each, resulting in a total transaction value of $495,215. Following this sale, Ahmed retains ownership of 1,906 shares in the company. The transaction was disclosed in a recent SEC filing.
In other recent news, Air Products & Chemicals Inc. has been the subject of various analyst adjustments and company developments. The company’s first-quarter performance fell short of expectations, with earnings per share at $2.86, slightly above the analyst estimate of $2.85, and revenue at $2.93 billion, missing the consensus estimate of $2.96 billion. In addition, the company’s forecast for the second quarter and full fiscal year 2025 did not meet consensus estimates.
BMO Capital Markets downgraded Air Products from Outperform to Market Perform and reduced the price target to $346, expressing concerns about the company’s ability to meet its financial targets for fiscal year 2025. Similarly, JPMorgan (NYSE:JPM) downgraded the stock from ’Overweight’ to ’Neutral’ and lowered the price target to $320, attributing the downgrade to potential risks in the company’s earnings growth.
On a more positive note, UBS analyst Joshua Spector increased the price target for Air Products to $385 and maintained a Buy rating for the stock, citing several anticipated positive catalysts to bolster investor confidence in the company’s earnings, growth, and execution capabilities.
The company also announced amendments to its corporate bylaws and changes in its board leadership structure, appointing Wayne T. Smith as its Chairman and Dennis H. Reilley as its Vice Chairman. These recent developments could play a crucial role in the company’s strategic direction moving forward.
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