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 equities researchers at Craig Hallum from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, July 29th,Zacks.com reports.

GTLS has been the topic of a number of other reports. Barclays dropped their price target on shares of Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Lake Street Capital cut shares of Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price target on the stock. in a research note on Wednesday, July 30th. Raymond James Financial restated a "market perform" rating on shares of Chart Industries in a research note on Wednesday, July 30th. Seaport Res Ptn cut shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Cowen cut shares of Chart Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $202.00.

Chart Industries Trading Up 0.1%

Shares of NYSE:GTLS traded up $0.26 during mid-day trading on Tuesday, reaching $199.01. 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 price-to-earnings ratio of 36.98, a PEG ratio of 1.15 and a beta of 1.59. The business's fifty day moving average price is $163.31 and its 200-day moving average price is $163.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.27 and a current ratio of 1.55. Chart Industries has a twelve month low of $101.60 and a twelve month high of $220.03.

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 (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.03). The firm had revenue of $1.08 billion during 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%. On average, research analysts predict that Chart Industries will post 9.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Chart Industries

A number of institutional investors have recently made changes to their positions in the stock. Capital Analysts LLC purchased a new position in shares of Chart Industries during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chart Industries during the first quarter worth approximately $25,000. Global X Japan Co. Ltd. grew 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 in the last quarter. Brooklyn Investment Group lifted its stake in Chart Industries by 19,900.0% during the first quarter. Brooklyn Investment Group now owns 200 shares of the industrial products company's stock worth $29,000 after purchasing an additional 199 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Chart Industries during the first quarter worth $30,000.

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.