Chart Industries (GTLS) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Chart Industries (NASDAQ:GTLS) from a hold rating to a strong-buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $94.00 price objective on the industrial products company’s stock.
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. “
Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Chart Industries from a sell rating to a hold rating in a research note on Tuesday, December 4th. Evercore ISI raised shares of Chart Industries from an in-line rating to an outperform rating and set a $63.56 target price on the stock in a research note on Sunday, December 9th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. Chart Industries has a consensus rating of Buy and an average price target of $85.51.
Chart Industries (NASDAQ:GTLS) last announced its earnings results on Thursday, February 14th. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The business had revenue of $290.10 million for the quarter, compared to the consensus estimate of $283.50 million. Chart Industries had a net margin of 5.69% and a return on equity of 8.31%. Chart Industries’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. On average, analysts anticipate that Chart Industries will post 2.07 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of GTLS. Bank of Montreal Can raised its stake in shares of Chart Industries by 4.6% during the third quarter. Bank of Montreal Can now owns 45,957 shares of the industrial products company’s stock worth $3,600,000 after acquiring an additional 2,028 shares in the last quarter. Scout Investments Inc. raised its stake in shares of Chart Industries by 2.2% during the third quarter. Scout Investments Inc. now owns 53,873 shares of the industrial products company’s stock worth $4,220,000 after acquiring an additional 1,166 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Chart Industries during the third quarter worth approximately $1,402,000. Fisher Asset Management LLC raised its stake in shares of Chart Industries by 58.5% during the third quarter. Fisher Asset Management LLC now owns 61,443 shares of the industrial products company’s stock worth $4,813,000 after acquiring an additional 22,677 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Chart Industries by 19.5% during the third quarter. First Trust Advisors LP now owns 7,701 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 1,257 shares in the last quarter.
Chart Industries Company Profile
Chart Industries, Inc manufactures and sells engineered equipment, packaged solutions, and value-add services for the industrial gas, energy, and biomedical industries worldwide. It operates in three segments: Energy & Chemicals (E&C), Distribution & Storage (D&S), and BioMedical. The E&C segment primarily provides brazed aluminum heat exchangers, Core-in-Kettle heat exchangers, air cooled heat exchangers, cold boxes, and process systems, as well as axial cooling fans for power, heating, ventilation, air conditioning, and refining end user applications.
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