Is Buying Praxair, Inc. (PX) Here a Winning Strategy? The Stock Formed Bullish Multiple Top

September 17, 2017 - By Richard Conner

Investors sentiment increased to 1.02 in Q4 2016. Its up 0.10, from 0.92 in 2016Q3. It improved, as 44 investors sold Praxair, Inc. shares while 290 reduced holdings. 79 funds opened positions while 261 raised stakes. 231.14 million shares or 1.70% more from 227.29 million shares in 2016Q3 were reported.
Robeco Institutional Asset Mgmt Bv invested 0.01% in Praxair, Inc. (NYSE:PX). Aviva Plc has 0.13% invested in Praxair, Inc. (NYSE:PX) for 186,563 shares. Haverford holds 0.09% or 1,745 shares. Citigroup Inc reported 111,289 shares. Tdam Usa accumulated 8,415 shares. Eaton Vance Mngmt invested in 105,188 shares or 0.03% of the stock. Midas Mgmt, a New York-based fund reported 11,500 shares. Bank Of The West accumulated 5,067 shares. 410,906 were reported by Blackrock Japan. Cincinnati Casualty reported 25,000 shares stake. Sandy Spring National Bank accumulated 642 shares. Intl Inc Ca reported 0.13% stake. Amica Pension Fund Board Of Trustees reported 23,888 shares or 0.34% of all its holdings. Raymond James Fin invested in 0.04% or 44,231 shares. Commonwealth Financial Bank Of reported 25,887 shares.

The stock of Praxair, Inc. (PX) shows a multiple tops pattern with $140.93 target or 5.00 % above today’s $134.22 share price. The 9 months chart pattern indicates low risk for the $38.39 billion company. It was reported on Sep, 17 by Finviz.com. If the $140.93 price target is reached, the company will be worth $1.92 billion more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.09% or $0.12 on September 15, reaching $134.22. About 1.84M shares traded or 65.77% up from the average. Praxair, Inc. (NYSE:PX) has risen 17.42% since September 17, 2016 and is uptrending. It has outperformed by 0.72% the S&P500.

Investors wait Praxair, Inc. (NYSE:PX) to report on October, 26. its quarterly earnings Wall Street analysts expect $1.45 EPS, up $0.04 or 2.84 % from last year’s $1.41 same quarter earnings. This translates into $414.73 million profit for PX giving the stock a 23.14 P/E. This is assuming the current $1.45 EPS is accurate. Praxair, Inc.’s Wall Street analysts see -0.68 % negative EPS growth, taking into account the $1.46 EPS reproted in the previous quarter,

Praxair, Inc. (NYSE:PX) Ratings Coverage

Among 20 analysts covering Praxair (NYSE:PX), 7 have Buy rating, 3 Sell and 10 Hold. Therefore 35% are positive. Praxair had 34 analyst reports since August 12, 2015 according to SRatingsIntel. The company was maintained on Tuesday, August 2 by CLSA. The firm earned “Overweight” rating on Friday, January 27 by JP Morgan. The firm has “Sell” rating given on Friday, August 28 by Zacks. On Tuesday, February 2 the stock rating was downgraded by KeyBanc Capital Markets to “Sector Weight”. The rating was initiated by Morgan Stanley with “Equal-Weight” on Tuesday, September 13. On Friday, January 22 the stock rating was reinitiated by Bank of America with “Underperform”. The rating was maintained by Jefferies on Tuesday, May 30 with “Buy”. The stock of Praxair, Inc. (NYSE:PX) earned “Hold” rating by Deutsche Bank on Monday, April 4. The rating was upgraded by Susquehanna to “Positive” on Thursday, September 7. The firm earned “Neutral” rating on Saturday, January 7 by Bank of America.

More important recent Praxair, Inc. (NYSE:PX) news were published by: Seekingalpha.com which released: “I Am Selling One Half Of My Praxair Position” on August 21, 2017, also Bna.com published article titled: “Linde-Praxair Deal to See Close Scrutiny at FTC”, Nasdaq.com published: “Praxair, Inc. (PX) Ex-Dividend Date Scheduled for September 07, 2017” on September 06, 2017. More interesting news about Praxair, Inc. (NYSE:PX) was released by: Seekingalpha.com and their article: “Praxair: Ready To Pop” with publication date: September 09, 2017.

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