With a market cap of $64.5 billion, Air Products and Chemicals, Inc. (APD) is a global supplier of atmospheric, process, and specialty gases, serving industries such as manufacturing, energy, healthcare, chemicals, and metals across the Americas, Asia, Europe, the Middle East, and India. It also designs and manufactures advanced equipment for gas processing, liquefaction, storage, and transportation solutions.
Shares of the Allentown, Pennsylvania-based company have underperformed the broader market over the past 52 weeks. APD stock has risen 7.5% over this time frame, while the broader S&P 500 Index ($SPX) has gained 27.9%. However, the stock has returned 17.2% on a YTD basis, outpacing SPX's 9.2% return.
Looking closer, shares of the industrial gases giant have lagged behind the State Street Materials Select Sector SPDR ETF's (XLB) 17.1% increase over the past 52 weeks.
Shares of Air Products and Chemicals fell marginally on Apr. 30 despite reporting strong Q2 2026 results, including adjusted EPS of $3.20, adjusted operating income of $753 million, and a 9% rise in sales to $3.2 billion, as investors focused on continued macroeconomic uncertainty and ongoing helium pricing pressure. While the company raised its full-year adjusted EPS guidance to $13 - $13.25 and projected Q3 adjusted EPS of $3.25 - $3.35, lower helium pricing hurt profitability across the Americas, Asia, and Europe segments.
Investors were also concerned about high planned capital expenditures of approximately $4 billion for fiscal 2026 and softer pricing trends.
For the fiscal year ending in September 2026, analysts expect APD's adjusted EPS to rise 9.7% year-over-year to $13.20. The company's earnings surprise history is mixed. It beat the consensus estimates in three of the last four quarters while missing on another occasion.
Among the 23 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 14 “Strong Buy” ratings, one “Moderate Buy,” and eight “Holds”
On Apr. 24, RBC Capital raised its price target for Air Products and Chemicals to $338 and maintained an “Outperform” rating.
The mean price target of $331.62 represents a 14.6% premium to APD’s current price levels. The Street-high price target of $360 suggests a 24.4% potential upside.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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