Johnson Rice Downgrades Chart Industries (NYSE:GTLS) to Hold

Key Points

• Chart Industries (NYSE:GTLS) received a "hold" rating from Johnson Rice with a price target set at $210.00, suggesting a potential upside of 5.44%.
• Other analysts have varied price targets and ratings, with Stifel Nicolaus lowering their target to $214.00 while Goldman Sachs set theirs at $180.00.
• The company's latest earnings report showed $2.59 earnings per share, missing estimates, with a revenue of $1.08 billion compared to expectations of $1.11 billion.

Johnson Rice lowered shares of Chart Industries (NYSE:GTLS - Free Report) from a strong-buy rating to a hold rating in a report issued on Wednesday morning, Marketbeat reports. The brokerage currently has $210.00 target price on the industrial products company's stock.

Several other equities research analysts have also recently weighed in on the stock. Raymond James Financial reissued a "market perform" rating on shares of Chart Industries in a research report on Wednesday. UBS Group cut shares of Chart Industries from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $225.00 to $210.00 in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. The Goldman Sachs Group set a $180.00 price target on shares of Chart Industries and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus dropped their price target on shares of Chart Industries from $231.00 to $214.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Chart Industries currently has an average rating of "Hold" and a consensus price target of $202.00.

Chart Industries Price Performance

Shares of NYSE:GTLS traded down $0.08 during trading on Wednesday, reaching $198.75. The company had a trading volume of 12,015,201 shares, compared to its average volume of 2,491,437. The company has a fifty day moving average of $162.50 and a two-hundred day moving average of $164.25. The stock has a market capitalization of $8.93 billion, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 0.78 and a beta of 1.68. Chart Industries has a 12 month low of $101.60 and a 12 month 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.

Chart Industries (NYSE:GTLS - Get Free Report) last released its earnings results 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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.11 billion. Equities research analysts forecast that Chart Industries will post 9.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GTLS. Capital Analysts LLC purchased a new position in shares of Chart Industries in the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chart Industries in the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. raised its position in shares of Chart Industries by 142.9% in the 1st quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Chart Industries by 19,900.0% in the 1st quarter. Brooklyn Investment Group now owns 200 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 199 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Chart Industries in the 1st quarter valued at approximately $30,000.

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.