Chart Industries (GTLS) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Chart Industries (NASDAQ:GTLS) from a buy rating to a hold rating in a research note released on Wednesday morning.
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 analysts have also weighed in on the stock. Cowen reiterated a hold rating and set a $40.00 target price on shares of Chart Industries in a research report on Sunday, October 22nd. BidaskClub lowered shares of Chart Industries from a strong-buy rating to a buy rating in a research report on Wednesday, December 6th. Northcoast Research upgraded shares of Chart Industries from a neutral rating to a buy rating and set a $51.00 target price on the stock in a research report on Monday, October 9th. Seaport Global Securities upgraded shares of Chart Industries from a neutral rating to a buy rating and set a $58.00 target price on the stock in a research report on Friday, October 27th. Finally, Johnson Rice reiterated a buy rating and set a $48.00 target price (up from $42.00) on shares of Chart Industries in a research report on Monday, October 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $52.67.
Chart Industries (NASDAQ GTLS) traded down $0.94 during midday trading on Wednesday, reaching $51.79. 235,500 shares of the company’s stock traded hands, compared to its average volume of 223,499. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1,593.63, a price-to-earnings ratio of 99.60, a price-to-earnings-growth ratio of 1.53 and a beta of 1.33. Chart Industries has a 52 week low of $32.04 and a 52 week high of $53.10.
Chart Industries (NASDAQ:GTLS) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $240.50 million for the quarter, compared to analyst estimates of $235.96 million. Chart Industries had a negative net margin of 0.21% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. sell-side analysts forecast that Chart Industries will post 0.84 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. Barings LLC acquired a new stake in shares of Chart Industries during the 3rd quarter valued at about $204,000. SG Americas Securities LLC boosted its position in shares of Chart Industries by 42.7% during the 2nd quarter. SG Americas Securities LLC now owns 6,657 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 1,992 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Chart Industries during the 2nd quarter valued at about $231,000. Crossmark Global Holdings Inc. acquired a new position in Chart Industries in the third quarter valued at about $231,000. Finally, PEAK6 Investments L.P. acquired a new position in Chart Industries in the third quarter valued at about $393,000. Institutional investors and hedge funds own 86.65% of the company’s stock.
About Chart Industries
Chart Industries, Inc is a diversified global manufacturer of engineered equipment, packaged solutions, and value-add services used throughout the industrial gas, energy and biomedical industries. The Company operates through three business segments: Energy & Chemicals (E&C), Distribution & Storage (D&S) and BioMedical.
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