Morgan Stanley Cuts Chart Industries (NYSE:GTLS) Price Target to $250.00

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

A number of other equities analysts also recently weighed in on the stock. Raymond James reaffirmed a “strong-buy” rating and issued a $190.00 target price on shares of Chart Industries in a research note on Monday, December 2nd. Wells Fargo & Company lowered their target price on shares of Chart Industries from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. BTIG Research increased their price target on Chart Industries from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Barclays upped their price objective on Chart Industries from $145.00 to $165.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus upped their target price on shares of Chart Industries from $200.00 to $231.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Three equities research 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 MarketBeat.com, Chart Industries currently has an average rating of “Moderate Buy” and a consensus target price of $202.33.

Chart Industries Price Performance

Shares of GTLS stock opened at $147.48 on Thursday. Chart Industries has a one year low of $101.60 and a one year high of $220.03. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.00. The stock’s fifty day simple moving average is $181.51 and its 200 day simple moving average is $168.33. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 42.75, a P/E/G ratio of 0.57 and a beta of 1.87.

Chart Industries (NYSE:GTLS) last released its quarterly earnings results on Friday, February 28th. The industrial products company reported $2.66 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm earned $2.25 earnings per share. Chart Industries’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts expect that Chart Industries will post 9.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chart Industries news, Director Linda S. Harty acquired 500 shares of Chart Industries stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $140.85 per share, for a total transaction of $70,425.00. Following the purchase, the director now directly owns 11,684 shares in the company, valued at approximately $1,645,691.40. This represents a 4.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gerald F. Vinci acquired 175 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $147.89 per share, with a total value of $25,880.75. Following the transaction, the vice president now owns 475 shares in the company, valued at approximately $70,247.75. This trade represents a 58.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,109 shares of company stock worth $160,845 over the last ninety days. Company insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Archford Capital Strategies LLC grew its position in Chart Industries by 2.2% in the fourth quarter. Archford Capital Strategies LLC now owns 2,269 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 48 shares during the last quarter. First Manhattan CO. LLC. increased its holdings in Chart Industries by 3.1% in the 4th quarter. First Manhattan CO. LLC. now owns 1,779 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 54 shares in the last quarter. MML Investors Services LLC increased its holdings in Chart Industries by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 1,974 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 63 shares in the last quarter. Assetmark Inc. increased its stake in shares of Chart Industries by 3.0% in the fourth quarter. Assetmark Inc. now owns 2,185 shares of the industrial products company’s stock valued at $417,000 after buying an additional 64 shares during the period. Finally, Blue Trust Inc. raised its holdings in Chart Industries by 56.0% in 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.

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.