Chart Industries (NYSE:GTLS) Upgraded by Morgan Stanley to “Overweight”

Chart Industries (NYSE:GTLS) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday, MarketBeat reports. The firm presently has a $175.00 target price on the industrial products company’s stock. Morgan Stanley’s price objective suggests a potential upside of 52.20% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Craig Hallum lowered their target price on shares of Chart Industries from $229.00 to $199.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Wells Fargo & Company lowered their price objective on shares of Chart Industries from $179.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group decreased their price target on Chart Industries from $168.00 to $144.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Evercore ISI raised Chart Industries to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Bank of America increased their target price on Chart Industries from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.54.

Chart Industries Stock Performance

NYSE:GTLS opened at $114.98 on Monday. The company’s 50-day moving average is $132.10 and its two-hundred day moving average is $143.87. Chart Industries has a 1-year low of $101.60 and a 1-year high of $177.21. 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 firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 114.98, a PEG ratio of 0.35 and a beta of 1.70.

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

Insider Buying and Selling

In other news, Director Linda S. Harty purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $113.50 per share, for a total transaction of $113,500.00. Following the completion of the purchase, the director now directly owns 10,640 shares of the company’s stock, valued at $1,207,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chart Industries news, Director Linda S. Harty bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $113.50 per share, with a total value of $113,500.00. Following the completion of the acquisition, the director now directly owns 10,640 shares of the company’s stock, valued at approximately $1,207,640. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul E. Mahoney purchased 500 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were acquired at an average cost of $106.55 per share, with a total value of $53,275.00. Following the completion of the acquisition, the director now directly owns 2,107 shares in the company, valued at $224,500.85. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,940 shares of company stock worth $217,071. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Chart Industries

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chart Industries during the 1st quarter worth approximately $30,000. Spire Wealth Management boosted its stake in Chart Industries by 141.0% in the first quarter. Spire Wealth Management now owns 200 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Chart Industries during the fourth quarter worth about $33,000. Rise Advisors LLC increased its position in shares of Chart Industries by 905.0% during the first quarter. Rise Advisors LLC now owns 201 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 181 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in shares of Chart Industries in the 2nd quarter valued at about $40,000.

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.