Chart Industries (GTLS) Downgraded by Zacks Investment Research to “Hold”

Chart Industries (NASDAQ:GTLS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

GTLS has been the subject of several other reports. Cowen reiterated a “hold” rating and set a $40.00 target price on shares of Chart Industries in a research note on Sunday, October 22nd. BidaskClub upgraded Chart Industries from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Lake Street Capital boosted their price target on Chart Industries from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Seaport Global Securities upgraded Chart Industries from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Chart Industries currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Shares of Chart Industries (NASDAQ GTLS) traded up $0.42 during midday trading on Friday, hitting $45.06. The stock had a trading volume of 261,079 shares, compared to its average volume of 227,854. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.13 and a quick ratio of 0.74. Chart Industries has a one year low of $32.04 and a one year high of $55.42. The company has a market cap of $1,390.00, a P/E ratio of -643.71, a P/E/G ratio of 1.32 and a beta of 1.38.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Chart Industries by 7.7% in the 2nd quarter. Northern Trust Corp now owns 667,334 shares of the industrial products company’s stock valued at $23,178,000 after purchasing an additional 47,728 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Chart Industries by 2.9% during the 3rd 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. Eagle Asset Management Inc. raised its holdings in shares of Chart Industries by 176.4% during the 3rd 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. SG Capital Management LLC acquired a new position in shares of Chart Industries during the 3rd quarter worth $13,381,000. Finally, Legal & General Group Plc raised its holdings in shares of Chart Industries by 8.9% during the 3rd quarter. Legal & General Group Plc now owns 62,936 shares of the industrial products company’s stock worth $2,469,000 after buying an additional 5,150 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

WARNING: This piece was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/09/chart-industries-gtls-downgraded-by-zacks-investment-research-to-hold.html.

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.

Get a free copy of the Zacks research report on Chart Industries (GTLS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Chart Industries (NASDAQ:GTLS)

Receive News & Ratings for Chart Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chart Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply