Chart Industries (NYSE:GTLS) Downgraded by UBS Group to Hold

Key Points

• UBS Group has reiterated a "neutral" rating for Chart Industries (GTLS) and reduced its price target from $225.00 to $210.00, indicating a potential upside of 5.33% based on the stock's recent close.
• Recent reports from other brokerages show a range of price targets for GTLS, with Barclays setting a new low of $169.00 and Stifel Nicolaus adjusting their target to $214.00.
• Chart Industries reported earnings that missed analysts' expectations, with a quarterly EPS of $2.59 against a consensus estimate of $2.62.

Chart Industries (NYSE:GTLS - Get Free Report) was downgraded by equities researchers at UBS Group from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $210.00 price objective on the industrial products company's stock, down from their prior price objective of $225.00. UBS Group's price objective would suggest a potential upside of 5.66% from the company's previous close.

A number of other research firms also recently issued reports on GTLS. Stifel Nicolaus decreased their price target on shares of Chart Industries from $231.00 to $214.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group set a $180.00 price target on shares of Chart Industries and gave the company a "neutral" rating in a research note on Wednesday, May 28th. TD Cowen decreased their price target on shares of Chart Industries from $210.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Raymond James Financial reaffirmed a "market perform" rating on shares of Chart Industries in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price target on shares of Chart Industries from $214.00 to $208.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $202.00.

Chart Industries Price Performance

GTLS stock opened at $198.75 on Wednesday. Chart Industries has a one year low of $101.60 and a one year high of $220.03. The company's fifty day moving average price is $162.50 and its 200-day moving average price is $164.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.55. The company has a market capitalization of $8.93 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 0.78 and a beta of 1.68.

Chart Industries (NYSE:GTLS - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $2.59 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.03). The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.11 billion. Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. On average, equities analysts anticipate that Chart Industries will post 9.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Chart Industries

Several hedge funds and other institutional investors have recently made changes to their positions in GTLS. LPL Financial LLC raised its stake in shares of Chart Industries by 47.3% in the fourth quarter. LPL Financial LLC now owns 21,143 shares of the industrial products company's stock valued at $4,035,000 after acquiring an additional 6,785 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Chart Industries in the 4th quarter worth about $316,000. Norges Bank purchased a new position in Chart Industries in the 4th quarter worth about $88,609,000. Pictet Asset Management Holding SA increased its stake in Chart Industries by 17.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,260 shares of the industrial products company's stock worth $1,195,000 after buying an additional 918 shares during the period. Finally, Schroder Investment Management Group increased its stake in Chart Industries by 16.8% in the 4th quarter. Schroder Investment Management Group now owns 59,215 shares of the industrial products company's stock worth $11,286,000 after buying an additional 8,507 shares during the period.

About Chart Industries

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.