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

Morgan Stanley assumed coverage on shares of Chart Industries (NYSE:GTLS) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued an equal weight rating and a $200.00 target price on the industrial products company’s stock.

GTLS has been the topic of several other reports. Raymond James upgraded Chart Industries from an outperform rating to a strong-buy rating and set a $190.00 price target on the stock in a research report on Thursday, January 4th. TD Cowen lifted their price target on Chart Industries from $230.00 to $260.00 and gave the company an outperform rating in a research report on Thursday, February 29th. Wells Fargo & Company lifted their target price on Chart Industries from $155.00 to $172.00 and gave the stock an overweight rating in a report on Friday, March 1st. Finally, UBS Group upgraded Chart Industries from a neutral rating to a buy rating and lifted their target price for the stock from $152.00 to $170.00 in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $194.85.

Chart Industries Stock Down 0.4 %

Shares of GTLS stock opened at $148.04 on Thursday. Chart Industries has a 1 year low of $106.66 and a 1 year high of $184.65. The stock has a market cap of $6.22 billion, a PE ratio of 389.58, a price-to-earnings-growth ratio of 0.41 and a beta of 1.70. The business’s fifty day moving average is $146.06 and its 200-day moving average is $136.42. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.88 and a current ratio of 1.19.

Chart Industries (NYSE:GTLS) last issued its quarterly earnings results on Wednesday, February 28th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.12. Chart Industries had a return on equity of 9.27% and a net margin of 1.00%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 130.0% on a year-over-year basis. Equities analysts expect that Chart Industries will post 11.98 earnings per share for the current fiscal year.

Institutional Trading of Chart Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB boosted its position in shares of Chart Industries by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 1,948,174 shares of the industrial products company’s stock worth $268,088,000 after buying an additional 101,404 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Chart Industries by 10.4% in the fourth quarter. Vontobel Holding Ltd. now owns 139,774 shares of the industrial products company’s stock worth $19,055,000 after buying an additional 13,155 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Chart Industries in the fourth quarter worth $1,366,000. Peregrine Capital Management LLC boosted its position in shares of Chart Industries by 13.0% in the fourth quarter. Peregrine Capital Management LLC now owns 77,666 shares of the industrial products company’s stock worth $10,588,000 after buying an additional 8,938 shares during the period. Finally, Readystate Asset Management LP boosted its position in shares of Chart Industries by 94.5% in the fourth quarter. Readystate Asset Management LP now owns 23,605 shares of the industrial products company’s stock worth $3,218,000 after buying an additional 11,471 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.