Chart Industries (NYSE:GTLS) Rating Lowered to "Hold" at TD Cowen

Key Points

• Chart Industries has been downgraded by TD Cowen from a "strong-buy" rating to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• The company recently reported earnings of $2.59 per share for the quarter, missing expectations by $0.03 and posting lower revenue than anticipated.
• Despite the downgrade, Chart Industries has a market capitalization of $8.94 billion and a consensus price target of $202.00 according to MarketBeat.com.

TD Cowen cut shares of Chart Industries (NYSE:GTLS - Free Report) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

A number of other brokerages also recently commented on GTLS. Lake Street Capital downgraded Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price target for the company. in a research report on Wednesday, July 30th. Cowen lowered shares of Chart Industries from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. The Goldman Sachs Group set a $180.00 price objective on shares of Chart Industries and gave the company a "neutral" rating in a report on Wednesday, May 28th. Barclays decreased their price objective on shares of Chart Industries from $171.00 to $169.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, Johnson Rice lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 target price on the stock. in a research report on Wednesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chart Industries has a consensus rating of "Hold" and an average target price of $202.00.

Chart Industries Stock Up 0.1%

NYSE GTLS traded up $0.25 during trading on Thursday, reaching $199.00. 4,223,405 shares of the company's stock were exchanged, compared to its average volume of 1,188,463. The firm has a market capitalization of $8.94 billion, a PE ratio of 36.98, a P/E/G ratio of 1.15 and a beta of 1.59. The company has a current ratio of 1.55, a quick ratio of 1.27 and a debt-to-equity ratio of 1.04. Chart Industries has a fifty-two week low of $101.60 and a fifty-two week high of $220.03. The company's fifty day simple moving average is $163.31 and its 200-day simple moving average is $163.43.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.03). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.11 billion. Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. Sell-side analysts predict that Chart Industries will post 9.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GTLS. OneDigital Investment Advisors LLC lifted its stake in shares of Chart Industries by 13.2% in the first quarter. OneDigital Investment Advisors LLC now owns 2,026 shares of the industrial products company's stock valued at $292,000 after purchasing an additional 236 shares during the period. GAMMA Investing LLC raised its position in Chart Industries by 118.6% during the first quarter. GAMMA Investing LLC now owns 1,270 shares of the industrial products company's stock worth $183,000 after acquiring an additional 689 shares during the last quarter. Bank of New York Mellon Corp raised its position in Chart Industries by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 308,963 shares of the industrial products company's stock worth $44,602,000 after acquiring an additional 6,681 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Chart Industries by 7.4% during the first quarter. Envestnet Asset Management Inc. now owns 57,617 shares of the industrial products company's stock worth $8,318,000 after acquiring an additional 3,948 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Chart Industries by 1.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,781 shares of the industrial products company's stock worth $979,000 after acquiring an additional 98 shares during the last quarter.

Chart Industries Company Profile

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.