April Call Buyers Bet On New Highs In Praxair

BATS:PX   None
Roughly 3,800 PX Apr $135 calls were purchased late in the day on Friday for $0.69-$0.80 each (18x the average daily call volume ). Shares have bounced off of support at the $120 level and are now setting up for a return to $133-$135 in the intermediate-term. Consider buying the Apr $130 calls or $130/$135 bull call spreads with the plan to take at least partial profits near current resistance.

On January 28th, Praxair beat Q4 EPS estimates by $0.01 and increased their quarterly dividend by 10% to $0.71. The rising U.S. dollar is going to have an impact on growth this year, but the stock trades at a P/E ratio of 18.42x (2016 estimates) with 10.7% EPS growth, P/S ratio of 3.05x, and a P/B ratio of 6.66x. Praxair is investing more than $400 million to add hydrogen and nitrogen production capacity and extending its Gulf Coast pipeline systems approximately 46 miles from Texas City to the Freeport area (announced on 2/19).


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