Chart Industries was Downgraded to a Hold Rating at Evercore ISI

By Austin Angelo

Evercore ISI analyst James West downgraded Chart Industries (NASDAQ: GTLS) to Hold today. The company’s shares closed last Friday at $29.17.

According to TipRanks.com, West is ranked 0 out of 5 stars with an average return of -8.9% and a 34.9% success rate. West covers the Basic Materials sector, focusing on stocks such as North Atlantic Drilling Ltd, Diamond Offshore Drilling, and Oceaneering International.

Currently, the analyst consensus on Chart Industries is Hold and the average price target is $32.50, representing an 11.4% upside.

In a report issued on October 28, Craig-Hallum also downgraded the stock to Hold with a $33 price target.

Based on Chart Industries’ latest earnings report from June 30, the company posted quarterly revenue of $247.1M and quarterly net profit of $21.15M. In comparison, last year the company earned revenue of $264M and had a net profit of $4.76M.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2013, Michael W. Press, a a Director at GTLS sold 2,000 shares for a total of $229,360.

Chart Industries, Inc. engages in the manufacture of engineered equipment for the industrial gas, energy, and biomedical industries. It operates through the following segments: Energy and Chemicals, Distribution & Storage, and BioMedical. The Energy and Chemicals segment manufacture products used primarily in energy-related and industrial applications, such as the separation, liquefaction, distribution and storage of hydrocarbon and industrial gases. The Distribution & Storage segment designs, manufactures, and services cryogenic solutions for the storage and delivery of cryogenic liquids used in industrial gas and LNG applications. The BioMedical segment includes respiratory products, cold storage systems and commercial oxygen generation systems. The company was founded in 1992 and is headquartered in Garfield Heights, OH.