Chart Industries (NYSE:GTLS) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Chart Industries (NYSE:GTLS) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other research analysts have also issued reports on GTLS. Zacks Research lowered shares of Chart Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Chart Industries in a research report on Friday, March 27th. Twelve investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Chart Industries presently has an average rating of “Reduce” and an average price target of $198.17.

Chart Industries Stock Performance

Shares of NYSE GTLS opened at $207.20 on Friday. The firm’s 50-day moving average price is $207.38 and its two-hundred day moving average price is $206.07. The stock has a market capitalization of $9.92 billion, a P/E ratio of 796.97, a P/E/G ratio of 1.02 and a beta of 1.56. The company has a quick ratio of 1.09, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. Chart Industries has a 52-week low of $140.50 and a 52-week high of $208.51.

Chart Industries (NYSE:GTLS) last released its quarterly earnings results on Friday, February 27th. The industrial products company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.97). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.23 billion. Chart Industries had a negative net margin of 0.62% and a positive return on equity of 10.50%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $2.66 EPS. As a group, sell-side analysts forecast that Chart Industries will post 9.74 earnings per share for the current year.

Institutional Investors Weigh In On Chart Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Angelo Gordon & CO. L.P. acquired a new position in Chart Industries during the 3rd quarter worth $2,602,000. PACK Private Wealth LLC acquired a new position in Chart Industries during the 3rd quarter worth $2,342,000. Magnetar Financial LLC lifted its position in Chart Industries by 23.3% during the 3rd quarter. Magnetar Financial LLC now owns 382,078 shares of the industrial products company’s stock worth $76,473,000 after acquiring an additional 72,078 shares during the last quarter. Centiva Capital LP acquired a new position in Chart Industries during the 3rd quarter worth $12,009,000. Finally, New York Life Investment Management LLC lifted its position in Chart Industries by 881.1% during the 3rd quarter. New York Life Investment Management LLC now owns 46,858 shares of the industrial products company’s stock worth $9,379,000 after acquiring an additional 42,082 shares during the last quarter.

About Chart Industries

Chart Industries, Inc (NYSE: GTLS) is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart’s product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.