Morgan Stanley Initiates Coverage on Chart Industries (NYSE:GTLS)

Equities researchers at Morgan Stanley started coverage on shares of Chart Industries (NYSE:GTLS) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $200.00 price target on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential upside of 35.14% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen upped their target price on Chart Industries from $230.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Raymond James raised Chart Industries from an “outperform” rating to a “strong-buy” rating and set a $190.00 target price on the stock in a report on Thursday, January 4th. UBS Group upgraded shares of Chart Industries from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $152.00 to $170.00 in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company raised their price objective on shares of Chart Industries from $155.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $194.85.

Chart Industries Price Performance

Shares of GTLS opened at $148.00 on Thursday. Chart Industries has a one year low of $106.66 and a one year high of $184.65. The stock’s fifty day moving average is $146.06 and its 200-day moving average is $136.72. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.88 and a current ratio of 1.19. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 389.47, a price-to-earnings-growth ratio of 0.41 and a beta of 1.70.

Chart Industries (NYSE:GTLS) last announced its earnings results on Wednesday, February 28th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.12. Chart Industries had a net margin of 1.00% and a return on equity of 9.27%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. Chart Industries’s revenue was up 130.0% compared to the same quarter last year. Equities analysts anticipate that Chart Industries will post 11.79 EPS for the current year.

Institutional Investors Weigh In On Chart Industries

Hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its stake in Chart Industries by 164.6% during the 1st quarter. Belpointe Asset Management LLC now owns 217 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 135 shares during the period. KB Financial Partners LLC acquired a new position in Chart Industries during the first quarter valued at $28,000. Allspring Global Investments Holdings LLC purchased a new stake in Chart Industries in the 1st quarter worth about $30,000. Cape Investment Advisory Inc. acquired a new stake in Chart Industries during the 4th quarter worth about $33,000. Finally, Rise Advisors LLC grew its stake in Chart Industries by 905.0% during the 1st quarter. Rise Advisors LLC now owns 201 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 181 shares in the last quarter.

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.