Chart Industries, Inc. (GTLS) Upgraded to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Chart Industries, Inc. (NASDAQ:GTLS) from a hold rating to a strong-buy rating in a report published on Wednesday. The firm currently has $50.00 price objective on the industrial products company’s stock.
According to Zacks, “CHART INDUSTRIES is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end use of hydrocarbon and industrial gases. Their products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end use applications, the largest portion of which are energy related. “
A number of other brokerages have also recently issued reports on GTLS. Lake Street Capital boosted their price objective on Chart Industries from $48.00 to $55.00 and gave the company a buy rating in a research note on Friday, October 27th. Seaport Global Securities upgraded Chart Industries from a neutral rating to a buy rating and set a $58.00 price objective on the stock in a research note on Friday, October 27th. Cowen and Company restated a hold rating and issued a $40.00 price objective on shares of Chart Industries in a research note on Sunday, October 22nd. Northcoast Research upgraded Chart Industries from a neutral rating to a buy rating and set a $51.00 price objective on the stock in a research note on Monday, October 9th. Finally, Johnson Rice restated a buy rating and issued a $48.00 price objective (up from $42.00) on shares of Chart Industries in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $48.14.
Chart Industries (NASDAQ:GTLS) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. Chart Industries had a positive return on equity of 2.25% and a negative net margin of 0.21%. The business had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $235.96 million. During the same period in the previous year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC grew its holdings in shares of Chart Industries by 16.2% during the second quarter. Aperio Group LLC now owns 12,011 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 1,677 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Chart Industries by 8.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 216,287 shares of the industrial products company’s stock worth $7,558,000 after purchasing an additional 17,044 shares in the last quarter. Vivaldi Asset Management LLC purchased a new position in shares of Chart Industries during the second quarter worth about $2,858,000. South Dakota Investment Council grew its holdings in shares of Chart Industries by 101.5% during the second quarter. South Dakota Investment Council now owns 27,000 shares of the industrial products company’s stock worth $938,000 after purchasing an additional 13,600 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Chart Industries by 35.1% during the first quarter. New York State Teachers Retirement System now owns 17,714 shares of the industrial products company’s stock worth $619,000 after purchasing an additional 4,600 shares in the last quarter. 85.56% of the stock is owned by institutional investors.
Chart Industries Company Profile
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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