Bank of America Cuts Chart Industries (NYSE:GTLS) Price Target to $165.00

Chart Industries (NYSE:GTLS) had its price objective lowered by Bank of America from $185.00 to $165.00 in a research report report published on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the industrial products company’s stock.

GTLS has been the topic of several other reports. Craig Hallum cut their price objective on Chart Industries from $229.00 to $199.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Evercore ISI upgraded Chart Industries to a “strong-buy” rating in a research note on Monday, August 5th. Wells Fargo & Company decreased their price target on Chart Industries from $151.00 to $146.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Morgan Stanley raised shares of Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price objective for the company in a research report on Monday, September 16th. Finally, The Goldman Sachs Group dropped their price objective on shares of Chart Industries from $168.00 to $144.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $178.00.

Chart Industries Stock Performance

Shares of NYSE:GTLS opened at $127.16 on Monday. The firm has a market capitalization of $5.44 billion, a PE ratio of 127.16, a P/E/G ratio of 0.40 and a beta of 1.70. Chart Industries has a 12 month low of $101.60 and a 12 month high of $171.68. 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 $119.56 and a two-hundred day moving average of $139.64.

Chart Industries (NYSE:GTLS) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Chart Industries’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts forecast that Chart Industries will post 10.42 earnings per share for the current year.

Insider Transactions at Chart Industries

In related news, Director Paul E. Mahoney purchased 500 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $106.55 per share, with a total value of $53,275.00. Following the completion of the transaction, the director now owns 2,107 shares of the company’s stock, valued at $224,500.85. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chart Industries news, Director Linda S. Harty acquired 5,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $48.05 per share, with a total value of $240,250.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $240,250. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul E. Mahoney acquired 500 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost of $106.55 per share, with a total value of $53,275.00. Following the acquisition, the director now owns 2,107 shares of the company’s stock, valued at $224,500.85. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 7,152 shares of company stock valued at $482,278. 0.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chart Industries

A number of hedge funds have recently added to or reduced their stakes in GTLS. Teachers Retirement System of The State of Kentucky boosted its holdings in Chart Industries by 6.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 26,821 shares of the industrial products company’s stock worth $3,657,000 after purchasing an additional 1,557 shares during the period. Wellington Management Group LLP boosted its holdings in Chart Industries by 10.8% in the fourth quarter. Wellington Management Group LLP now owns 242,768 shares of the industrial products company’s stock worth $33,097,000 after purchasing an additional 23,741 shares during the period. ICA Group Wealth Management LLC acquired a new position in Chart Industries in the fourth quarter worth $87,000. Vanguard Group Inc. boosted its holdings in Chart Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 4,163,475 shares of the industrial products company’s stock worth $567,607,000 after purchasing an additional 39,130 shares during the period. Finally, Moody National Bank Trust Division boosted its holdings in shares of Chart Industries by 7.4% during the first quarter. Moody National Bank Trust Division now owns 4,618 shares of the industrial products company’s stock valued at $761,000 after acquiring an additional 320 shares during the period.

Chart Industries Company Profile

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.