Chart Industries (NYSE:GTLS) Cut to Strong Sell at Zacks Research

Key Points

• Chart Industries (GTLS) was downgraded by Zacks Research from a "hold" to a "strong sell", and the Street consensus is a "Reduce" rating with a $202.38 average target (1 Buy, 12 Hold, 2 Sell).
• The company missed quarterly expectations—EPS $2.51 vs. $3.48 est. and revenue $1.08B vs. $1.23B est.—with revenue down 2.5% year-over-year and a thin net margin of 0.95%.
• Shares trade near their 1-year high (opened $207.92, 1-year high $208.51) with a market cap of about $9.95B but an unusually high trailing P/E of ~799.7, signaling stretched valuation despite mixed fundamentals.

Chart Industries (NYSE:GTLS - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms have also commented on GTLS. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Chart Industries in a report on Friday, March 27th. Wall Street Zen upgraded Chart Industries to a "hold" rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $202.38.

Chart Industries Trading Up 0.2%

GTLS opened at $207.92 on Monday. Chart Industries has a 1-year low of $127.40 and a 1-year high of $208.51. The company has a current ratio of 1.36, a quick ratio of 1.09 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $207.32 and a two-hundred day moving average price of $205.52. The stock has a market capitalization of $9.95 billion, a PE ratio of 799.72, a PEG ratio of 0.96 and a beta of 1.70.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The industrial products company reported $2.51 earnings per share for the quarter, missing analysts' consensus estimates of $3.48 by ($0.97). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.23 billion. Chart Industries had a net margin of 0.95% and a return on equity of 13.55%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.66 EPS. As a group, equities analysts anticipate that Chart Industries will post 11.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chart Industries

Several institutional investors have recently added to or reduced their stakes in the stock. United Community Bank raised its stake in shares of Chart Industries by 364.5% in the 3rd quarter. United Community Bank now owns 144 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 113 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Chart Industries by 95.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 145 shares of the industrial products company's stock worth $29,000 after acquiring an additional 71 shares in the last quarter. Torren Management LLC bought a new stake in shares of Chart Industries in the fourth quarter worth $30,000. Los Angeles Capital Management LLC bought a new position in Chart Industries in the fourth quarter valued at $40,000. Finally, MCF Advisors LLC bought a new stake in Chart Industries during the 4th quarter worth about $41,000.

About Chart Industries

Chart Industries, Inc NYSE: GTLS is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart's product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.