Chart Industries (NASDAQ:GTLS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Several other equities research analysts also recently issued reports on GTLS. BidaskClub downgraded Chart Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Lake Street Capital raised their price target on Chart Industries from $48.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 27th. Seaport Global Securities raised Chart Industries from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a report on Friday, October 27th. Johnson Rice reissued a “buy” rating and set a $48.00 target price (up previously from $42.00) on shares of Chart Industries in a report on Monday, October 2nd. Finally, Northcoast Research raised Chart Industries from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, October 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $50.33.
Chart Industries (NASDAQ:GTLS) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $235.96 million. During the same quarter last year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 17.9% on a year-over-year basis. equities research analysts expect that Chart Industries will post 0.84 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of Chart Industries by 7.7% during the second quarter. Northern Trust Corp now owns 667,334 shares of the industrial products company’s stock worth $23,178,000 after buying an additional 47,728 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Chart Industries by 2.9% during the third quarter. Pzena Investment Management LLC now owns 1,353,367 shares of the industrial products company’s stock worth $53,093,000 after buying an additional 37,964 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Chart Industries during the third quarter worth $13,381,000. Eagle Asset Management Inc. lifted its holdings in shares of Chart Industries by 176.4% during the third quarter. Eagle Asset Management Inc. now owns 1,448,392 shares of the industrial products company’s stock worth $58,297,000 after buying an additional 924,284 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Chart Industries by 3.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 223,179 shares of the industrial products company’s stock worth $7,752,000 after buying an additional 6,892 shares in the last quarter. 86.65% of the stock is owned by institutional investors.
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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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