Chart Industries Inc. (GTLS) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Chart Industries Inc. (NASDAQ:GTLS) from a hold rating to a buy rating in a report published on Tuesday morning. The brokerage currently has $37.00 price target on the 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. “
GTLS has been the topic of a number of other research reports. Evercore ISI cut Chart Industries from a buy rating to a hold rating and set a $29.00 price target on the stock. in a report on Thursday, August 4th. Gabelli began coverage on shares of Chart Industries in a research note on Tuesday, October 11th. They set a buy rating and a $51.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Chart Industries presently has a consensus rating of Hold and a consensus target price of $31.44.
Chart Industries (NASDAQ:GTLS) opened at 32.28 on Tuesday. The firm’s 50 day moving average price is $31.55 and its 200-day moving average price is $27.15. The stock’s market cap is $987.54 million. Chart Industries has a 52 week low of $13.27 and a 52 week high of $34.06.
Chart Industries (NASDAQ:GTLS) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.60. The company had revenue of $247.10 million for the quarter, compared to analysts’ expectations of $222.95 million. Chart Industries had a positive return on equity of 4.55% and a negative net margin of 21.63%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Analysts expect that Chart Industries will post $0.84 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in Chart Industries during the second quarter valued at about $5,349,000. Dimensional Fund Advisors LP raised its position in Chart Industries by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,392,014 shares of the company’s stock valued at $33,589,000 after buying an additional 174,348 shares during the period. Rothschild Asset Management Inc. raised its position in Chart Industries by 147.4% in the second quarter. Rothschild Asset Management Inc. now owns 269,954 shares of the company’s stock valued at $6,514,000 after buying an additional 160,857 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Chart Industries during the first quarter valued at $3,137,000. Finally, Prudential Financial Inc. boosted its position in Chart Industries by 140.7% in the first quarter. Prudential Financial Inc. now owns 169,525 shares of the company’s stock valued at $3,682,000 after buying an additional 99,100 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.
About Chart Industries
Chart Industries, Inc (Chart) is a diversified manufacturer of engineered equipment for the industrial gas, energy, and biomedical industries. The Company’s equipment and engineered systems are used for low-temperature and cryogenic applications. It operates through three segments, including Energy & Chemicals (E&C), Distribution & Storage (D&S), and BioMedical.
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