Investors Buy Praxair, Inc. (PX) on Weakness

Traders bought shares of Praxair, Inc. (NYSE:PX) on weakness during trading on Monday. $38.87 million flowed into the stock on the tick-up and $16.55 million flowed out of the stock on the tick-down, for a money net flow of $22.32 million into the stock. Of all companies tracked, Praxair had the 27th highest net in-flow for the day. Praxair traded down ($0.92) for the day and closed at $141.29

A number of research analysts have commented on PX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, KeyCorp reissued a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Praxair currently has a consensus rating of “Hold” and a consensus target price of $138.00.

The stock has a 50 day moving average of $136.86 and a 200-day moving average of $131.39. The company has a market cap of $40.46 billion, a P/E ratio of 26.49 and a beta of 0.95.

Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in Praxair by 19.1% during the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after buying an additional 123 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in Praxair during the second quarter worth about $106,000. Exane Derivatives purchased a new position in Praxair during the second quarter worth about $109,000. Tortoise Investment Management LLC grew its position in Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after buying an additional 31 shares in the last quarter. Finally, Sandy Spring Bank grew its position in Praxair by 31.2% during the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.30% of the company’s stock.

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A number of research analysts have commented on PX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, KeyCorp reissued a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Praxair currently has a consensus rating of “Hold” and a consensus target price of $138.00.

The stock has a 50 day moving average of $136.86 and a 200-day moving average of $131.39. The company has a market cap of $40.46 billion, a P/E ratio of 26.49 and a beta of 0.95.

Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in Praxair by 19.1% during the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after buying an additional 123 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in Praxair during the second quarter worth about $106,000. Exane Derivatives purchased a new position in Praxair during the second quarter worth about $109,000. Tortoise Investment Management LLC grew its position in Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after buying an additional 31 shares in the last quarter. Finally, Sandy Spring Bank grew its position in Praxair by 31.2% during the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.30% of the company’s stock.

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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.

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