Chart Industries (NYSE:GTLS) Price Target Cut to $165.00

Chart Industries (NYSE:GTLS) had its price target dropped by research analysts at Bank of America from $185.00 to $165.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s price objective suggests a potential upside of 32.50% from the company’s current price.

A number of other brokerages have also recently issued reports on GTLS. Evercore ISI upgraded shares of Chart Industries to a “strong-buy” rating in a report on Monday, August 5th. Wells Fargo & Company lowered their price objective on Chart Industries from $151.00 to $146.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Craig Hallum reduced their target price on Chart Industries from $229.00 to $199.00 and set a “buy” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group decreased their target price on Chart Industries from $168.00 to $144.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Stifel Nicolaus dropped their price target on shares of Chart Industries from $199.00 to $198.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Three 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.09.

Chart Industries Price Performance

GTLS opened at $124.53 on Monday. The stock has a fifty day moving average price of $119.30 and a 200 day moving average price of $139.73. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 1.28. Chart Industries has a 1 year low of $101.60 and a 1 year high of $171.68. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 124.53, a PEG ratio of 0.40 and a beta of 1.70.

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 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 the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts forecast that Chart Industries will post 10.42 EPS for the current fiscal year.

Insider Activity

In other news, Director Linda S. Harty bought 5,000 shares of Chart Industries stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $48.05 per share, with a total value of $240,250.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $240,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chart Industries news, Director Linda S. Harty purchased 5,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $48.05 per share, for a total transaction of $240,250.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $240,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul E. Mahoney acquired 500 shares of the stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $106.55 per share, for a total transaction of $53,275.00. Following the completion of the purchase, the director now owns 2,107 shares in the company, valued at approximately $224,500.85. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 7,152 shares of company stock worth $482,278. Company insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Chart Industries by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,208,612 shares of the industrial products company’s stock valued at $693,243,000 after acquiring an additional 45,137 shares during the last quarter. Bamco Inc. NY raised its position in Chart Industries by 2.2% in the 1st quarter. Bamco Inc. NY now owns 1,170,013 shares of the industrial products company’s stock valued at $192,725,000 after purchasing an additional 25,000 shares during the last quarter. King Luther Capital Management Corp boosted its stake in Chart Industries by 6.3% in the second quarter. King Luther Capital Management Corp now owns 1,002,758 shares of the industrial products company’s stock worth $144,738,000 after purchasing an additional 59,322 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Chart Industries by 10.7% during the second quarter. Principal Financial Group Inc. now owns 770,465 shares of the industrial products company’s stock worth $111,209,000 after purchasing an additional 74,519 shares during the last quarter. Finally, Perpetual Ltd increased its stake in shares of Chart Industries by 24.0% in the first quarter. Perpetual Ltd now owns 543,933 shares of the industrial products company’s stock valued at $89,597,000 after buying an additional 105,236 shares in 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.