Chart Industries Inc. (GTLS) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Chart Industries Inc. (NASDAQ:GTLS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $37.00 price objective on the stock.
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. “
Other equities research analysts have also recently issued research reports about the stock. Gabelli began coverage on shares of Chart Industries in a research note 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 research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Chart Industries currently has an average rating of Hold and an average price target of $31.44.
Chart Industries (NASDAQ:GTLS) opened at 32.95 on Tuesday. The stock’s market capitalization is $1.01 billion. The firm has a 50-day moving average of $31.39 and a 200 day moving average of $26.99. Chart Industries has a one year low of $13.27 and a one year high of $34.06.
Chart Industries (NASDAQ:GTLS) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.60. Chart Industries had a negative net margin of 21.63% and a positive return on equity of 4.55%. The firm had revenue of $247.10 million for the quarter, compared to analysts’ expectations of $222.95 million. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Chart Industries will post $0.84 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Chart Industries by 4.0% in the second quarter. Vanguard Group Inc. now owns 2,452,120 shares of the company’s stock valued at $59,170,000 after buying an additional 94,829 shares in the last quarter. BlackRock Fund Advisors raised its position in Chart Industries by 3.0% in the second quarter. BlackRock Fund Advisors now owns 2,080,675 shares of the company’s stock valued at $50,207,000 after buying an additional 59,715 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Chart Industries by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,392,014 shares of the company’s stock valued at $33,589,000 after buying an additional 174,348 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Chart Industries by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 750,380 shares of the company’s stock valued at $16,298,000 after buying an additional 11,228 shares in the last quarter. Finally, State Street Corp raised its position in Chart Industries by 2.7% in the second quarter. State Street Corp now owns 638,288 shares of the company’s stock valued at $15,401,000 after buying an additional 16,884 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
About Chart Industries
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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