TD Cowen Downgrades Chart Industries (NYSE:GTLS) to Hold

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 downgraded 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.

GTLS has been the topic of several other research reports. Raymond James Financial reiterated a "market perform" rating on shares of Chart Industries in a research report on Wednesday. Cowen cut shares of Chart Industries from a "buy" rating to a "hold" rating in a research note on Wednesday. The Goldman Sachs Group set a $180.00 price objective on shares of Chart Industries and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Stifel Nicolaus dropped their target price on shares of Chart Industries from $231.00 to $214.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Barclays decreased their target price on shares of Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $202.00.

Chart Industries Stock Down 0.0%

Shares of NYSE GTLS traded down $0.08 during mid-day trading on Thursday, reaching $198.75. 12,015,201 shares of the company's stock traded hands, compared to its average volume of 2,491,437. The stock has a market cap of $8.93 billion, a P/E ratio of 36.94, a PEG ratio of 0.78 and a beta of 1.59. The business has a 50-day simple moving average of $162.50 and a 200 day simple moving average of $163.91. Chart Industries has a 1-year low of $101.60 and a 1-year high of $220.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.55 and a quick ratio of 1.21.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly earnings data 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). Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.11 billion. On average, analysts expect that Chart Industries will post 9.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Chart Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Analysts LLC acquired a new stake in shares of Chart Industries during the 4th quarter worth approximately $25,000. Global X Japan Co. Ltd. boosted its position in shares of Chart Industries by 142.9% during the first quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company's stock worth $25,000 after buying an additional 100 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Chart Industries during the first quarter worth about $25,000. Bessemer Group Inc. raised its stake in Chart Industries by 93.0% in the second quarter. Bessemer Group Inc. now owns 193 shares of the industrial products company's stock valued at $32,000 after buying an additional 93 shares during the period. Finally, Brooklyn Investment Group raised its stake in Chart Industries by 19,900.0% in the first quarter. Brooklyn Investment Group now owns 200 shares of the industrial products company's stock valued at $29,000 after buying an additional 199 shares during the period.

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.