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.
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.
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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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