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

Chart Industries (NYSE:GTLS) had its price objective cut by Morgan Stanley from $275.00 to $250.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group increased their target price on shares of Chart Industries from $138.00 to $201.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Barclays raised their price objective on Chart Industries from $145.00 to $165.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. BTIG Research boosted their target price on Chart Industries from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Citigroup lifted their price target on Chart Industries from $190.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Raymond James reissued a “strong-buy” rating and set a $190.00 price objective on shares of Chart Industries in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.33.

Chart Industries Price Performance

Shares of NYSE:GTLS opened at $147.48 on Thursday. The stock’s fifty day simple moving average is $181.51 and its two-hundred day simple moving average is $168.33. The stock has a market cap of $6.74 billion, a PE ratio of 42.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.87. The company has a current ratio of 1.27, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. Chart Industries has a 1-year low of $101.60 and a 1-year high of $220.03.

Chart Industries (NYSE:GTLS) last announced its quarterly earnings data on Friday, February 28th. The industrial products company reported $2.66 earnings per share for the quarter, missing the consensus estimate of $3.20 by ($0.54). Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company posted $2.25 earnings per share. Chart Industries’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts forecast that Chart Industries will post 9.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jillian C. Evanko acquired 350 shares of Chart Industries stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $150.35 per share, with a total value of $52,622.50. Following the transaction, the chief executive officer now directly owns 137,666 shares in the company, valued at approximately $20,698,083.10. This represents a 0.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gerald F. Vinci acquired 175 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $147.89 per share, with a total value of $25,880.75. Following the purchase, the vice president now directly owns 475 shares of the company’s stock, valued at $70,247.75. The trade was a 58.33 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,109 shares of company stock worth $160,845 in the last three months. 0.95% of the stock is owned by corporate insiders.

Institutional Trading of Chart Industries

Several institutional investors have recently bought and sold shares of the company. Capital Analysts LLC purchased a new position in Chart Industries in the 4th quarter worth approximately $25,000. Smartleaf Asset Management LLC boosted its holdings in Chart Industries by 129.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 163 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 92 shares during the last quarter. Fairway Wealth LLC bought a new stake in Chart Industries in the 4th quarter worth approximately $34,000. Blue Trust Inc. raised its stake in Chart Industries by 56.0% during the 4th quarter. Blue Trust Inc. now owns 181 shares of the industrial products company’s stock valued at $35,000 after buying an additional 65 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of Chart Industries by 183.8% during the 4th quarter. Spire Wealth Management now owns 193 shares of the industrial products company’s stock valued at $37,000 after buying an additional 125 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.