Citigroup Initiates Coverage on Linde (NYSE:LIN)

Citigroup Initiates Coverage on Linde (NYSE:LIN)

Analysts at Citigroup initiated coverage on shares of Linde (NYSE:LIN) in a research report issued on Friday, The Fly reports. The brokerage set a “buy” rating on the basic materials company’s stock.

LIN has been the subject of several other reports. Societe Generale upped their price objective on Linde from $350.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 17th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Linde from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, October 29th. Seaport Res Ptn reissued a “neutral” rating on shares of Linde in a report on Tuesday, October 19th. Wells Fargo & Company lifted their price target on Linde from $360.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, October 29th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Linde in a research report on Monday, September 6th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Linde currently has a consensus rating of “Buy” and an average target price of $341.71.

Shares of LIN stock opened at $327.25 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.70 and a current ratio of 0.81. Linde has a fifty-two week low of $240.80 and a fifty-two week high of $340.16. The firm has a market cap of $167.73 billion, a P/E ratio of 48.20, a P/E/G ratio of 3.09 and a beta of 0.81. The business’s 50 day moving average price is $315.68 and its 200-day moving average price is $305.46.

Linde (NYSE:LIN) last posted its quarterly earnings results on Thursday, October 28th. The basic materials company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.06. The company had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.53 billion. Linde had a return on equity of 11.29% and a net margin of 11.99%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 EPS. As a group, equities analysts predict that Linde will post 10.61 EPS for the current year.

In other Linde news, VP John Panikar sold 4,872 shares of the company’s stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $327.19, for a total transaction of $1,594,069.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Herold Advisors Inc. purchased a new position in shares of Linde during the 3rd quarter worth about $29,000. JFS Wealth Advisors LLC grew its stake in shares of Linde by 87.3% in the third quarter. JFS Wealth Advisors LLC now owns 103 shares of the basic materials company’s stock valued at $30,000 after buying an additional 48 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of Linde during the third quarter worth $31,000. PrairieView Partners LLC acquired a new position in Linde in the 3rd quarter worth $35,000. Finally, MV Capital Management Inc. lifted its stake in shares of Linde by 70.4% in the third quarter. MV Capital Management Inc. now owns 138 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 57 shares in the last quarter. 71.56% of the stock is currently owned by institutional investors.

Linde Company Profile

Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.

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