Zacks Investment Research downgraded
Chart Industries Inc.
) to a Zacks Rank #5 (Strong Sell) on Jun 10, 2014. Going by the
Zacks model, companies holding a Zacks Rank #5 have strong chances
of performing worse than the broader market.
Why the Downgrade?
Chart Industries reported disappointing results for first-quarter
2014. The company's earnings were 41 cents per share, down from 54
cents per share earned in the year-ago quarter. Also, the
bottom-line result lagged the Zacks Consensus Estimate of 62 cents
Revenues decreased 3% year over year to $266.2 million due to weak
performance in the BioMedical segment. Orders declined 8.6%
sequentially while backlog inched down 1% at the quarter-end. Gross
profit slipped 2.4% year over year with gross margin standing at
For 2014, Chart Industries revised its sales guidance downward to a
range of $1.25−$1.3 billion from the prior expectation of
$1.3−$1.35 billion. Earnings are anticipated to lie within
$3.00−$3.40 per share, down from the $3.10−$3.50 range projected
Lower-than-expected results and lowered sales and earnings per
share guidance for 2014 triggered downward revisions in the
earnings estimates for Chart Industries. Over the last 60 days, the
Zacks Consensus Estimate has decreased 5.2% to $3.09 for 2014 and
5.5% to $3.99 for 2015. Also, the company has an
of -1.33% for second-quarter 2014 and -4.8% for full-year 2014.
Other Stocks to Consider
Chart Industries has a market capitalization of $2.4 billion. Some
better-ranked stocks in the same industry include
Blount International Inc.
). While Gorman-Rupp sports a Zacks Rank #1 (Strong Buy), both
Blount International and Nordson hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
NORDSON CORP (NDSN): Free Stock Analysis Report
CHART INDUSTRIE (GTLS): Free Stock Analysis
GORMAN RUPP CO (GRC): Free Stock Analysis
BLOUNT INTL (BLT): Free Stock Analysis Report
To read this article on Zacks.com click here.