Morgan Stanley Lowers Chart Industries (NYSE:GTLS) Price Target to $250.00

Chart Industries (NYSE:GTLS - Get Free Report) had its price target cut by analysts at Morgan Stanley from $275.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. Morgan Stanley's target price suggests a potential upside of 73.09% from the company's current price.

Other equities research analysts have also issued research reports about the stock. BTIG Research lifted their price objective on shares of Chart Industries from $170.00 to $210.00 and gave the company a "buy" rating in a report on Monday, December 16th. Barclays boosted their price target on Chart Industries from $145.00 to $165.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on Chart Industries from $215.00 to $214.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Raymond James reiterated a "strong-buy" rating and issued a $190.00 target price on shares of Chart Industries in a report on Monday, December 2nd. Finally, Citigroup raised their price target on Chart Industries from $190.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.33.

Remove Ads

Chart Industries Price Performance

Shares of Chart Industries stock traded down $2.83 on Thursday, hitting $144.43. 647,822 shares of the company traded hands, compared to its average volume of 677,761. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.27. The business has a 50-day simple moving average of $181.51 and a 200 day simple moving average of $168.74. Chart Industries has a 52 week low of $101.60 and a 52 week high of $220.03. The stock has a market capitalization of $6.60 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 0.57 and a beta of 1.87.

Chart Industries (NYSE:GTLS - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.20 by ($0.54). Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the company earned $2.25 EPS. Chart Industries's revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts expect that Chart Industries will post 9.02 earnings per share for the current fiscal year.

Insider Transactions at Chart Industries

In other news, VP Gerald F. Vinci bought 175 shares of Chart Industries stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $147.89 per share, with a total value of $25,880.75. Following the completion of the acquisition, the vice president now directly owns 475 shares of the company's stock, valued at $70,247.75. The trade was a 58.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jillian C. Evanko purchased 350 shares of the stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $150.35 per share, for a total transaction of $52,622.50. Following the completion of the purchase, the chief executive officer now directly owns 137,666 shares of the company's stock, valued at approximately $20,698,083.10. The trade was a 0.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,109 shares of company stock worth $160,845 over the last three months. 0.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chart Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolf Hill Capital Management LP acquired a new position in Chart Industries during the fourth quarter worth about $101,121,000. Norges Bank acquired a new stake in shares of Chart Industries in the fourth quarter valued at approximately $88,609,000. Dimensional Fund Advisors LP lifted its position in Chart Industries by 37.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,064,637 shares of the industrial products company's stock worth $203,178,000 after buying an additional 291,520 shares in the last quarter. Wellington Management Group LLP boosted its stake in Chart Industries by 90.9% during the third quarter. Wellington Management Group LLP now owns 551,482 shares of the industrial products company's stock worth $68,461,000 after buying an additional 262,592 shares during the last quarter. Finally, Keybank National Association OH increased its stake in shares of Chart Industries by 10,372.6% in the 4th quarter. Keybank National Association OH now owns 246,734 shares of the industrial products company's stock worth $47,087,000 after acquiring an additional 244,378 shares during the last quarter.

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.