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

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

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

GTLS opened at $58.69 on Monday. Chart Industries has a 52 week low of $57.88 and a 52 week high of $95.66. The business has a fifty day simple moving average of $71.60 and a 200-day simple moving average of $80.73. The firm has a market cap of $2.10 billion, a P/E ratio of 29.05 and a beta of 1.08. 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 (NASDAQ:GTLS) last released its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. Chart Industries had a return on equity of 8.67% and a net margin of 7.34%. The business had revenue of $309.60 million during the quarter, compared to analyst estimates of $322.35 million. During the same period last year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Chart Industries will post 3.01 earnings per share for the current year.

In other Chart Industries news, Director Carey Chen purchased 3,403 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $59.73 per share, for a total transaction of $203,261.19. Following the completion of the purchase, the director now directly owns 5,500 shares in the company, valued at $328,515. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System grew 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 worth $1,068,000 after purchasing an additional 123 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Chart Industries by 1.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,844 shares of the industrial products company’s stock worth $982,000 after purchasing an additional 144 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Chart Industries by 1.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,450 shares of the industrial products company’s stock worth $727,000 after purchasing an additional 160 shares during the last quarter. HMS Capital Management LLC grew its holdings in shares of Chart Industries by 3.5% during the second quarter. HMS Capital Management LLC now owns 5,212 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 176 shares during the last quarter. Finally, State of Alaska Department of Revenue grew 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 worth $963,000 after purchasing an additional 210 shares during the last quarter.

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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