Chart Industries (NYSE:GTLS) Downgraded by Craig Hallum to Hold

Key Points

• Chart Industries was downgraded by Craig Hallum from a "strong-buy" to a "hold" rating, with other analysts also adjusting their ratings recently.
• The stock has a consensus rating of "Hold" and an average target price of $202.00, despite a mixed performance in earnings and revenue compared to estimates.
• Several institutional investors have recently increased their stakes in Chart Industries, reflecting ongoing interest in the company despite the recent downgrade.

Chart Industries (NYSE:GTLS - Get Free Report) was downgraded by investment analysts at Craig Hallum from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently commented on GTLS. Lake Street Capital cut 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. Seaport Res Ptn downgraded Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Cowen cut Chart Industries from a "buy" rating to a "hold" rating in a research report on Wednesday. The Goldman Sachs Group set a $180.00 price objective on Chart Industries and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Morgan Stanley lowered their price objective on Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $202.00.

Chart Industries Stock Performance

Chart Industries stock traded down $0.08 during midday trading on Tuesday, hitting $198.75. The stock had a trading volume of 12,015,201 shares, compared to its average volume of 2,491,437. Chart Industries has a 52-week low of $101.60 and a 52-week high of $220.03. The company has a current ratio of 1.55, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $8.93 billion, a PE ratio of 36.94, a P/E/G ratio of 0.78 and a beta of 1.59. The firm's fifty day moving average is $162.50 and its two-hundred day moving average is $163.91.

Chart Industries (NYSE:GTLS - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.03). Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.11 billion. On average, research analysts forecast that Chart Industries will post 9.02 EPS for the current 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 lifted its stake in Chart Industries by 47.3% during the fourth quarter. LPL Financial LLC now owns 21,143 shares of the industrial products company's stock worth $4,035,000 after purchasing an additional 6,785 shares during the period. Pictet Asset Management Holding SA lifted its position in Chart Industries by 17.2% during 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 in the last quarter. Schroder Investment Management Group raised its holdings in shares of 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 valued at $11,286,000 after purchasing an additional 8,507 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Chart Industries in the 4th quarter valued at about $385,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Chart Industries during the 4th quarter worth approximately $246,000.

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.