Zacks Investment Research upgraded shares of Chart Industries (NASDAQ:GTLS) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.
According to Zacks, “Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing end market applications in Energy, Industry, Life Sciences and Respiratory Healthcare with a unique business portfolio. Their equipment is used in the production, storage, distribution and end-use of atmospheric, hydrocarbon, and industrial gases. Chart Industries are organized in three operating segments: Energy & Chemicals, Distribution and Storage, and BioMedical serving customers from a global manufacturing platform in North America, Europe and Asia. Chart Industries fully appreciate how important a good understanding of their business and their markets is when evaluating investment decisions. “
Several other research analysts have also commented on GTLS. Raymond James raised shares of Chart Industries from a market perform rating to an outperform rating and set a $72.00 price objective for the company in a research note on Tuesday, August 13th. Morgan Stanley lifted their price objective on shares of Chart Industries from $90.00 to $100.00 and gave the stock an overweight rating in a research note on Tuesday, July 23rd. Credit Suisse Group initiated coverage on shares of Chart Industries in a research note on Tuesday, August 13th. They set an outperform rating and a $83.00 price objective for the company. ValuEngine lowered shares of Chart Industries from a hold rating to a sell rating in a research note on Saturday, August 10th. Finally, BidaskClub lowered shares of Chart Industries from a sell rating to a strong sell rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Chart Industries has an average rating of Hold and a consensus target price of $85.43.
NASDAQ GTLS opened at $61.42 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 2.00 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $71.34 and a two-hundred day moving average of $80.63. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 30.41 and a beta of 1.08. Chart Industries has a 52 week low of $57.88 and a 52 week high of $95.66.
Chart Industries (NASDAQ:GTLS) last posted its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $309.60 million during the quarter, compared to analyst estimates of $322.35 million. Chart Industries had a net margin of 7.34% and a return on equity of 8.67%. Chart Industries’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Chart Industries will post 3.01 EPS for the current year.
In related news, Director Carey Chen bought 3,403 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $59.73 per share, with a total value of $203,261.19. Following the completion of the purchase, the director now owns 5,500 shares of the company’s stock, valued at $328,515. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.28% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Chart Industries in the 4th quarter valued at about $22,427,000. Geode Capital Management LLC raised its holdings in Chart Industries by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 351,182 shares of the industrial products company’s stock valued at $22,837,000 after acquiring an additional 27,985 shares during the period. State of Alaska Department of Revenue raised its holdings in Chart Industries by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 10,648 shares of the industrial products company’s stock valued at $963,000 after acquiring an additional 210 shares during the period. Louisiana State Employees Retirement System raised its holdings in Chart Industries by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 123 shares during the period. Finally, Sciencast Management LP bought a new position in Chart Industries in the 1st quarter valued at about $459,000.
About Chart Industries
Chart Industries, Inc manufactures and sells engineered equipment and packaged solutions; and provides value-add services for the energy and industrial gas industries worldwide. It operates through three segments: Energy & Chemicals, Distribution & Storage Western Hemisphere, and Distribution & Storage Eastern Hemisphere segments.
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