Axxcess Wealth Management LLC Buys New Position in Chart Industries, Inc. $GTLS

Key Points

• Axxcess Wealth Management LLC has initiated a new position in Chart Industries, acquiring 1,627 shares valued at approximately $268,000.
• Chart Industries has received downgraded ratings from multiple analysts, with Cowen and Johnson Rice changing their ratings to "hold" and setting a price target of $210.00.
• The company's latest earnings report missed analysts' expectations, posting $2.59 earnings per share against an estimate of $2.62 and revenue of $1.08 billion, below the forecast of $1.11 billion.

Axxcess Wealth Management LLC bought a new stake in Chart Industries, Inc. (NYSE:GTLS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,627 shares of the industrial products company's stock, valued at approximately $268,000.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group boosted 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 period. SVB Wealth LLC acquired a new stake in shares of Chart Industries in the 1st quarter valued at about $30,000. Toth Financial Advisory Corp acquired a new stake in shares of Chart Industries in the 2nd quarter valued at about $33,000. Atticus Wealth Management LLC acquired a new stake in shares of Chart Industries in the 2nd quarter valued at about $34,000. Finally, Hughes Financial Services LLC purchased a new stake in Chart Industries during the 1st quarter valued at approximately $44,000.

Analysts Set New Price Targets

Several analysts have commented on the company. Cowen downgraded Chart Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Johnson Rice downgraded Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective for the company. in a research note on Wednesday, July 30th. Raymond James Financial reaffirmed a "market perform" rating on shares of Chart Industries in a research note on Wednesday, July 30th. UBS Group reaffirmed a "neutral" rating and set a $210.00 price objective (down from $225.00) on shares of Chart Industries in a research note on Wednesday, July 30th. Finally, Hsbc Global Res raised Chart Industries to a "hold" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, Chart Industries has a consensus rating of "Hold" and a consensus target price of $204.85.

Chart Industries Stock Performance

Shares of GTLS stock opened at $199.91 on Friday. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.71. The stock has a 50 day simple moving average of $199.37 and a 200-day simple moving average of $170.95. Chart Industries, Inc. has a 12-month low of $104.60 and a 12-month high of $220.03. 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 (NYSE:GTLS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.62 by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.11 billion. Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. On average, equities analysts forecast that Chart Industries, Inc. will post 9.02 EPS for the current year.

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.

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