Chart Industries (NYSE:GTLS) Sets New 1-Year High – Here’s Why

Chart Industries, Inc. (NYSE:GTLS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $195.86 and last traded at $194.67, with a volume of 164730 shares. The stock had previously closed at $190.60.

Analysts Set New Price Targets

Several brokerages recently issued reports on GTLS. The Goldman Sachs Group cut their price target on Chart Industries from $168.00 to $144.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Morgan Stanley raised Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price target on the stock in a report on Monday, September 16th. Evercore ISI raised Chart Industries to a “strong-buy” rating in a research note on Monday, August 5th. Craig Hallum lifted their target price on Chart Industries from $199.00 to $207.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus lifted their target price on Chart Industries from $198.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Chart Industries currently has an average rating of “Moderate Buy” and a consensus target price of $178.82.

Chart Industries Stock Up 2.6 %

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.00. The firm has a market cap of $8.37 billion, a PE ratio of 56.70, a P/E/G ratio of 0.97 and a beta of 1.71. The business has a fifty day moving average price of $141.00 and a two-hundred day moving average price of $139.46.

Chart Industries (NYSE:GTLS) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.38). Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts anticipate that Chart Industries, Inc. will post 9.03 EPS for the current fiscal year.

Insider Activity

In other news, Director Linda S. Harty acquired 5,000 shares of Chart Industries stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $48.05 per share, with a total value of $240,250.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $240,250. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jillian C. Evanko acquired 440 shares of Chart Industries stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average cost of $114.31 per share, with a total value of $50,296.40. Following the transaction, the chief executive officer now owns 125,448 shares of the company’s stock, valued at approximately $14,339,960.88. The trade was a 0.35 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 7,152 shares of company stock worth $482,278. 0.95% of the stock is owned by corporate insiders.

Institutional Trading of Chart Industries

A number of institutional investors have recently bought and sold shares of GTLS. Ashton Thomas Securities LLC bought a new stake in shares of Chart Industries during the 3rd quarter worth about $34,000. UMB Bank n.a. boosted its stake in shares of Chart Industries by 418.0% during the 3rd quarter. UMB Bank n.a. now owns 316 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 255 shares in the last quarter. Byrne Asset Management LLC bought a new stake in shares of Chart Industries during the 2nd quarter worth about $40,000. Ecofi Investissements SA bought a new stake in shares of Chart Industries during the 2nd quarter worth about $50,000. Finally, Mendota Financial Group LLC boosted its stake in shares of Chart Industries by 46.2% during the 3rd quarter. Mendota Financial Group LLC now owns 642 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 203 shares in the last quarter.

About Chart Industries

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.