Zacks Investment Research downgraded shares of Chart Industries, Inc. (NASDAQ:GTLS) from a hold rating to a sell rating in a report issued on Tuesday, July 4th.
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. “
Separately, Johnson Rice raised shares of Chart Industries from a hold rating to a buy rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Chart Industries currently has an average rating of Hold and a consensus target price of $39.14.
Shares of Chart Industries (GTLS) traded down 1.02% on Tuesday, reaching $35.01. The company’s stock had a trading volume of 586,913 shares. Chart Industries has a 52-week low of $27.01 and a 52-week high of $40.87. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 92.37 and a beta of 1.28. The stock has a 50-day moving average of $34.84 and a 200 day moving average of $35.80.
Chart Industries (NASDAQ:GTLS) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. The business had revenue of $238.21 million for the quarter, compared to analyst estimates of $225.76 million. Chart Industries had a net margin of 1.35% and a return on equity of 3.28%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. On average, equities research analysts forecast that Chart Industries will post $0.76 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of GTLS. Vanguard Group Inc. increased its position in Chart Industries by 8.8% in the first quarter. Vanguard Group Inc. now owns 3,842,890 shares of the industrial products company’s stock valued at $134,271,000 after buying an additional 310,641 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Chart Industries by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,089,590 shares of the industrial products company’s stock worth $73,010,000 after buying an additional 201,528 shares during the last quarter. Norges Bank bought a new stake in shares of Chart Industries during the fourth quarter worth $26,309,000. State Street Corp boosted its stake in shares of Chart Industries by 9.4% in the fourth quarter. State Street Corp now owns 722,191 shares of the industrial products company’s stock worth $26,014,000 after buying an additional 62,071 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Chart Industries by 2.1% in the first quarter. Canada Pension Plan Investment Board now owns 309,000 shares of the industrial products company’s stock worth $10,796,000 after buying an additional 6,300 shares during the period. Institutional investors and hedge funds own 86.77% of the company’s stock.
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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