Chart Industries (NYSE:GTLS) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Chart Industries (NYSE:GTLS) from an equal weight rating to an overweight rating in a report issued on Monday, Marketbeat reports. They currently have $175.00 price target on the industrial products company’s stock.

A number of other research firms have also recently commented on GTLS. Barclays cut their price objective on Chart Industries from $193.00 to $147.00 and set an equal weight rating for the company in a research report on Tuesday, August 6th. Evercore ISI raised shares of Chart Industries to a strong-buy rating in a report on Monday, August 5th. The Goldman Sachs Group decreased their price objective on shares of Chart Industries from $168.00 to $144.00 and set a neutral rating on the stock in a report on Thursday, August 29th. Wells Fargo & Company cut their target price on shares of Chart Industries from $179.00 to $151.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Finally, Craig Hallum decreased their price target on shares of Chart Industries from $229.00 to $199.00 and set a buy rating on the stock in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chart Industries currently has an average rating of Moderate Buy and an average price target of $185.54.

Chart Industries Price Performance

Shares of NYSE GTLS opened at $121.60 on Monday. 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 stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 122.19, a PEG ratio of 0.35 and a beta of 1.70. The firm’s 50 day simple moving average is $131.37 and its 200-day simple moving average is $143.50. Chart Industries has a 12 month low of $101.60 and a 12 month high of $176.85.

Chart Industries (NYSE:GTLS) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.39). Chart Industries had a net margin of 2.80% and a return on equity of 12.27%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $1.19 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts expect that Chart Industries will post 10.57 EPS for the current year.

Insider Buying and Selling at Chart Industries

In other news, CEO Jillian C. Evanko purchased 440 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was acquired at an average price of $114.31 per share, for a total transaction of $50,296.40. Following the acquisition, the chief executive officer now directly owns 125,448 shares of the company’s stock, valued at $14,339,960.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Linda S. Harty purchased 1,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $113.50 per share, for a total transaction of $113,500.00. Following the completion of the transaction, the director now directly owns 10,640 shares in the company, valued at $1,207,640. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jillian C. Evanko acquired 440 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average price of $114.31 per share, for a total transaction of $50,296.40. Following the completion of the acquisition, the chief executive officer now owns 125,448 shares in the company, valued at approximately $14,339,960.88. The disclosure for this purchase can be found here. Insiders have bought 7,152 shares of company stock worth $482,278 in the last ninety days. 0.95% of the stock is owned by insiders.

Institutional Trading of Chart Industries

Several institutional investors have recently added to or reduced their stakes in GTLS. SCP Investment LP purchased a new position in shares of Chart Industries during the fourth quarter worth $528,000. Principal Securities Inc. acquired a new position in Chart Industries in the 4th quarter valued at about $89,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Chart Industries by 15.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,283 shares of the industrial products company’s stock worth $564,000 after purchasing an additional 564 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Chart Industries by 60.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,951 shares of the industrial products company’s stock worth $1,766,000 after purchasing an additional 4,856 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Chart Industries in the fourth quarter valued at approximately $57,415,000.

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.