Chart Industries (GTLS) Upgraded by Zacks Investment Research to Strong-Buy
Chart Industries (NASDAQ:GTLS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage presently has a $85.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.46% from the company’s current price.
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. “
A number of other equities analysts also recently commented on the company. Gabelli downgraded Chart Industries from a “buy” rating to a “hold” rating in a report on Friday, February 15th. BidaskClub upgraded Chart Industries from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Lake Street Capital raised their price objective on Chart Industries to $109.00 and gave the stock a “buy” rating in a report on Friday, February 15th. Finally, ValuEngine upgraded Chart Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chart Industries has an average rating of “Buy” and a consensus target price of $87.14.
Chart Industries (NASDAQ:GTLS) last issued its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $289.30 million during the quarter, compared to analyst estimates of $290.33 million. Chart Industries had a return on equity of 8.93% and a net margin of 7.09%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, research analysts forecast that Chart Industries will post 2.95 earnings per share for the current fiscal year.
In other news, CAO Michael Schmit sold 464 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $92.65, for a total value of $42,989.60. Following the transaction, the chief accounting officer now directly owns 1,125 shares in the company, valued at approximately $104,231.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.28% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Redwood Investments LLC purchased a new stake in shares of Chart Industries during the 1st quarter valued at about $13,601,000. Squarepoint Ops LLC raised its holdings in shares of Chart Industries by 294.4% during the 4th quarter. Squarepoint Ops LLC now owns 10,555 shares of the industrial products company’s stock valued at $686,000 after buying an additional 7,879 shares during the period. Stifel Financial Corp purchased a new stake in shares of Chart Industries during the 4th quarter valued at about $10,391,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Chart Industries during the 4th quarter valued at about $772,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Chart Industries by 393.3% during the 4th quarter. Victory Capital Management Inc. now owns 24,529 shares of the industrial products company’s stock valued at $1,595,000 after buying an additional 19,557 shares during the period.
Chart Industries Company Profile
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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