In a report released today, Connor Lynagh from Morgan Stanley maintained a Buy rating on Chart Industries (GTLS – Research Report), with a price target of $205.00. The company’s shares closed last Thursday at $184.40.
According to TipRanks.com, Lynagh is a 3-star analyst with an average return of 2.8% and a 55.4% success rate. Lynagh covers the Industrial Goods sector, focusing on stocks such as ProFrac Holding Corp. Class A, Nextier Oilfield Solutions, and Liberty Oilfield Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chart Industries with a $198.50 average price target.
Based on Chart Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $354 million and net profit of $10.2 million. In comparison, last year the company earned revenue of $289 million and had a net profit of $25.6 million.
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Chart Industries, Inc. engages in the manufacturing of engineered equipment for the industrial gas, energy, and biomedical industries. It operates through the following business segments: Energy and Chemicals Cryogenics, Distribution and Storage Western Hemisphere, Distribution & Storage Eastern Hemisphere, and Energy and Chemicals FinFans. The Energy and Chemicals Cryogenics segment supplies engineered equipment and technology-driven process systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases. The Distribution and Storage Western and Eastern Hemisphere segment designs, manufactures, and services cryogenic solutions for the storage and delivery of cryogenic liquids used in industrial gas and LNG applications in different geographical regions. The Energy and Chemicals FinFans facilitates major natural gas, petrochemical processing, petroleum refining, power generation and industrial gas companies in the production of their products. The company was founded in 1992 and is headquartered in Ball Ground, GA.
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