Chart Industries (NYSE:GTLS) Price Target Cut to $198.00

Chart Industries (NYSE:GTLS) had its target price dropped by research analysts at Stifel Nicolaus from $199.00 to $198.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 59.60% from the company’s previous close.

A number of other equities research analysts have also issued reports on GTLS. The Goldman Sachs Group lowered their target price on Chart Industries from $168.00 to $144.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America increased their target price on Chart Industries from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Craig Hallum lowered their target price on Chart Industries from $229.00 to $199.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Evercore ISI upgraded Chart Industries to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Morgan Stanley upgraded Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price objective for the company in a research note on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Chart Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.91.

Chart Industries Stock Performance

Shares of NYSE:GTLS opened at $124.06 on Wednesday. The firm has a market capitalization of $5.31 billion, a PE ratio of 124.06, a P/E/G ratio of 0.39 and a beta of 1.70. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.27 and a quick ratio of 0.98. The business has a 50-day moving average of $120.28 and a two-hundred day moving average of $141.04. Chart Industries has a 12 month low of $101.60 and a 12 month high of $171.68.

Chart Industries (NYSE:GTLS) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.39). Chart Industries had a return on equity of 12.27% and a net margin of 2.80%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts forecast that Chart Industries will post 10.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jillian C. Evanko bought 440 shares of Chart Industries stock in a transaction on Thursday, September 5th. The shares were bought at an average price of $114.31 per share, with a total value of $50,296.40. Following the acquisition, the chief executive officer now directly owns 125,448 shares in the company, valued at approximately $14,339,960.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Linda S. Harty acquired 1,000 shares of Chart Industries stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $113.50 per share, for a total transaction of $113,500.00. Following the transaction, the director now directly owns 10,640 shares of the company’s stock, valued at $1,207,640. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jillian C. Evanko acquired 440 shares of Chart Industries stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average price of $114.31 per share, with a total value of $50,296.40. Following the transaction, the chief executive officer now directly owns 125,448 shares in the company, valued at approximately $14,339,960.88. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 7,152 shares of company stock valued at $482,278 in the last quarter. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in Chart Industries during the 1st quarter valued at approximately $30,000. Rise Advisors LLC boosted its position in Chart Industries by 905.0% during the 1st quarter. Rise Advisors LLC now owns 201 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 181 shares during the period. Byrne Asset Management LLC acquired a new position in Chart Industries during the 2nd quarter worth $40,000. Ecofi Investissements SA acquired a new position in Chart Industries during the 2nd quarter worth $50,000. Finally, Covestor Ltd boosted its position in Chart Industries by 509.8% during the 1st quarter. Covestor Ltd now owns 372 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 311 shares during the period.

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.