Chart Industries (NASDAQ:GTLS) was downgraded by equities researchers at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $105.00 price target on the stock, down from their previous price target of $130.00. Piper Jaffray Cos.’s price target indicates a potential downside of 2.30% from the company’s current price.
The analysts wrote, “We are downgrading to Neutral following the Q3 results. We still think buying GTLS is the best way to invest in the global transition toward natural gas – and positive news flow will probably continue over the next year (at least) – but there were some developments in Q3 that left us seeking a more attractive entry point. First, management’s tone re: China seems to be shifting due to a lack of gas supply and corruption charges at PetroChina; this is a concern, given recent momentum in Chinese orders. Also, for the second time in 3 quarters, operational problems unexpectedly drove margins lower. And finally, there are risks associated with buying Chinese companies, and GTLS just announced its second purchase in four months. Our new price target is $105, down from $130.”
A number of other firms have also recently commented on GTLS. Analysts at Raymond James raised their price target on shares of Chart Industries from $125.00 to $130.00 in a research note to investors on Tuesday, October 8th. They now have an “outperform” rating on the stock. Analysts at Clarkson Capital initiated coverage on shares of Chart Industries in a research note to investors on Monday, October 7th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $115.18.
Chart Industries (NASDAQ:GTLS) traded down 2.65% on Friday, hitting $104.62. The stock had a trading volume of 202,990 shares. Chart Industries has a 52-week low of $55.89 and a 52-week high of $125.64. The stock’s 50-day moving average is $123.7 and its 200-day moving average is $105.5. The company has a market cap of $3.175 billion and a P/E ratio of 43.90.
Chart Industries (NASDAQ:GTLS) last announced its earnings results on Thursday, October 31st. The company reported $0.82 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.88 by $0.06. The company had revenue of $301.80 million for the quarter, compared to the consensus estimate of $325.02 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. On average, analysts predict that Chart Industries will post $3.20 earnings per share for the current fiscal year.
Chart Industries, Inc (NASDAQ:GTLS) is a holding company.
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