Chart Industries Inc. (GTLS) Upgraded to “Buy” by Zacks Investment Research
Chart Industries Inc. (NASDAQ:GTLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $37.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.29% from the company’s current price.
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. “
Several other analysts have also recently issued reports on GTLS. Gabelli began coverage on shares of Chart Industries in a report on Tuesday. They issued a “buy” rating and a $51.00 price target on the stock. Evercore ISI cut shares of 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $31.44.
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Shares of Chart Industries (NASDAQ:GTLS) traded down 0.75% during midday trading on Tuesday, hitting $32.95. 346,182 shares of the stock were exchanged. Chart Industries has a 12-month low of $13.27 and a 12-month high of $34.06. The firm has a 50 day moving average of $31.39 and a 200 day moving average of $26.99. The firm’s market cap is $1.01 billion.
Chart Industries (NASDAQ:GTLS) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.60. The firm had revenue of $247.10 million for the quarter, compared to analysts’ expectations of $222.95 million. Chart Industries had a negative net margin of 21.63% and a positive return on equity of 4.55%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Equities analysts forecast that Chart Industries will post $0.84 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in GTLS. Barclays PLC raised its position in Chart Industries by 267.4% in the first quarter. Barclays PLC now owns 29,476 shares of the company’s stock valued at $619,000 after buying an additional 21,454 shares in the last quarter. A.R.T. Advisors LLC raised its position in Chart Industries by 669.3% in the first quarter. A.R.T. Advisors LLC now owns 99,654 shares of the company’s stock valued at $2,164,000 after buying an additional 86,700 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Chart Industries during the first quarter valued at approximately $3,137,000. Bayesian Capital Management LP purchased a new position in Chart Industries during the first quarter valued at approximately $226,000. Finally, HBK Investments L P purchased a new position in Chart Industries during the first quarter valued at approximately $426,000. Institutional investors and hedge funds own 88.30% of the company’s stock.
Chart Industries Company Profile
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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