UBS Group Downgrades Chart Industries (NYSE:GTLS) to Hold

Chart Industries (NYSE:GTLS) was downgraded by analysts at UBS Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $210.00 price objective on the industrial products company’s stock, down from their previous price objective of $225.00. UBS Group’s price target would suggest a potential upside of 5.58% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Barclays decreased their target price on shares of Chart Industries from $171.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Morgan Stanley decreased their price objective on Chart Industries from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. TD Cowen dropped their target price on Chart Industries from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Stifel Nicolaus decreased their price target on Chart Industries from $231.00 to $214.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James Financial restated a “market perform” rating on shares of Chart Industries in a report on Wednesday. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chart Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Chart Industries Price Performance

Shares of NYSE:GTLS opened at $198.90 on Wednesday. Chart Industries has a 52 week low of $101.60 and a 52 week high of $220.03. The company has a 50-day moving average price of $161.68 and a 200 day moving average price of $164.30. The company has a market cap of $8.94 billion, a P/E ratio of 36.97, a PEG ratio of 0.78 and a beta of 1.68. The company has a quick ratio of 1.21, a current ratio of 1.55 and a debt-to-equity ratio of 1.04.

Chart Industries (NYSE:GTLS) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.03). Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.11 billion. Research analysts predict that Chart Industries will post 9.02 earnings per share for the current year.

Institutional Trading of Chart Industries

Institutional investors have recently modified their holdings of the company. Perpetual Ltd acquired a new stake in Chart Industries in the 2nd quarter valued at approximately $107,498,000. Wolf Hill Capital Management LP bought a new stake in Chart Industries in the fourth quarter valued at about $101,121,000. Norges Bank bought a new position in Chart Industries during the fourth quarter worth about $88,609,000. Gates Capital Management Inc. lifted its stake in Chart Industries by 61.5% during the first quarter. Gates Capital Management Inc. now owns 776,636 shares of the industrial products company’s stock worth $112,115,000 after purchasing an additional 295,738 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Chart Industries by 37.7% during the 4th 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 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.