BidaskClub Downgrades Chart Industries (NASDAQ:GTLS) to Strong Sell

BidaskClub lowered shares of Chart Industries (NASDAQ:GTLS) from a sell rating to a strong sell rating in a report released on Monday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Chart Industries from a sell rating to a hold rating in a report on Wednesday, July 31st. Morgan Stanley upped their price target on Chart Industries from $90.00 to $100.00 and gave the stock an overweight rating in a report on Tuesday, July 23rd. Finally, ValuEngine cut Chart Industries from a hold rating to a sell rating in a report on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $85.43.

Shares of GTLS stock opened at $58.69 on Monday. The stock has a market cap of $2.10 billion, a PE ratio of 29.05 and a beta of 1.08. The business has a 50-day simple moving average of $71.60 and a 200-day simple moving average of $80.73. The company has a quick ratio of 1.36, a current ratio of 2.00 and a debt-to-equity ratio of 0.25. Chart Industries has a 52-week low of $57.88 and a 52-week high of $95.66.

Chart Industries (NASDAQ:GTLS) last issued its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.07. The business had revenue of $309.60 million during the quarter, compared to analysts’ expectations of $322.35 million. Chart Industries had a return on equity of 8.67% and a net margin of 7.34%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. Sell-side analysts anticipate that Chart Industries will post 3.01 earnings per share for the current fiscal year.

In other news, Director Carey Chen bought 3,403 shares of Chart Industries stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $59.73 per share, with a total value of $203,261.19. Following the completion of the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at $328,515. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in GTLS. Norges Bank acquired a new position in shares of Chart Industries during the fourth quarter valued at approximately $22,427,000. Geode Capital Management LLC raised its holdings in shares of Chart Industries by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 351,182 shares of the industrial products company’s stock valued at $22,837,000 after acquiring an additional 27,985 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Chart Industries by 2.0% during the first quarter. State of Alaska Department of Revenue now owns 10,648 shares of the industrial products company’s stock valued at $963,000 after acquiring an additional 210 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Chart Industries by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 123 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in shares of Chart Industries during the first quarter valued at approximately $459,000.

About Chart Industries

Chart Industries, Inc manufactures and sells engineered equipment and packaged solutions; and provides value-add services for the energy and industrial gas industries worldwide. It operates through three segments: Energy & Chemicals, Distribution & Storage Western Hemisphere, and Distribution & Storage Eastern Hemisphere segments.

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Analyst Recommendations for Chart Industries (NASDAQ:GTLS)

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