Morgan Stanley Issues Pessimistic Forecast for Chart Industries (NYSE:GTLS) Stock Price

Chart Industries (NYSE:GTLS) had its price objective lowered by Morgan Stanley from $250.00 to $225.00 in a research report sent to investors on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

GTLS has been the topic of several other research reports. 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. TD Cowen cut their price target on Chart Industries from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company cut their price target on Chart Industries from $214.00 to $208.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 1st. Stifel Nicolaus cut 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, The Goldman Sachs Group cut their price target on Chart Industries from $197.00 to $173.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $199.36.

Chart Industries Stock Performance

GTLS stock opened at $171.66 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 1.16. The business’s fifty day simple moving average is $142.95 and its two-hundred day simple moving average is $171.97. Chart Industries has a twelve month low of $101.60 and a twelve month high of $220.03. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 0.57 and a beta of 1.69.

Chart Industries (NYSE:GTLS) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.02. Chart Industries had a return on equity of 13.25% and a net margin of 4.30%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The business’s revenue was up 38.8% compared to the same quarter last year. Analysts predict that Chart Industries will post 9.02 earnings per share for the current year.

Insider Activity at Chart Industries

In other Chart Industries news, Director Linda S. Harty purchased 500 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $140.85 per share, with a total value of $70,425.00. Following the completion of the acquisition, the director now owns 11,684 shares in the company, valued at $1,645,691.40. The trade was a 4.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gerald F. Vinci purchased 175 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $147.89 per share, with a total value of $25,880.75. Following the acquisition, the vice president now owns 475 shares of the company’s stock, valued at approximately $70,247.75. This represents a 58.33% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,109 shares of company stock valued at $160,845 over the last quarter. 0.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chart Industries

Several institutional investors have recently added to or reduced their stakes in the business. United Services Automobile Association acquired a new stake in Chart Industries in the first quarter worth about $405,000. Aristeia Capital L.L.C. acquired a new stake in shares of Chart Industries during the first quarter worth about $417,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Chart Industries during the first quarter worth about $1,646,000. Palo Duro Investment Partners LP acquired a new stake in shares of Chart Industries during the first quarter worth about $3,002,000. Finally, Nixon Capital LLC lifted its holdings in shares of Chart Industries by 15.1% during the first quarter. Nixon Capital LLC now owns 94,495 shares of the industrial products company’s stock worth $13,641,000 after purchasing an additional 12,409 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.