SG Capital Management LLC Takes Position in Chart Industries, Inc. (NYSE:GTLS)

SG Capital Management LLC acquired a new stake in shares of Chart Industries, Inc. (NYSE:GTLS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,427 shares of the industrial products company’s stock, valued at approximately $400,000.

A number of other hedge funds have also made changes to their positions in GTLS. Capital World Investors boosted its stake in Chart Industries by 0.4% during the 4th quarter. Capital World Investors now owns 4,986,531 shares of the industrial products company’s stock valued at $679,814,000 after purchasing an additional 17,450 shares during the period. Vanguard Group Inc. lifted its position in shares of Chart Industries by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 4,208,612 shares of the industrial products company’s stock worth $693,243,000 after acquiring an additional 45,137 shares during the period. Bamco Inc. NY lifted its position in shares of Chart Industries by 2.2% in the 1st quarter. Bamco Inc. NY now owns 1,170,013 shares of the industrial products company’s stock worth $192,725,000 after acquiring an additional 25,000 shares during the period. King Luther Capital Management Corp lifted its position in shares of Chart Industries by 8.6% in the 4th quarter. King Luther Capital Management Corp now owns 930,238 shares of the industrial products company’s stock worth $126,819,000 after acquiring an additional 73,586 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Chart Industries by 13.9% in the 1st quarter. Principal Financial Group Inc. now owns 695,946 shares of the industrial products company’s stock worth $114,636,000 after acquiring an additional 84,931 shares during the period.

Wall Street Analyst Weigh In

GTLS has been the subject of a number of research reports. Bank of America raised their price objective on Chart Industries from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. The Goldman Sachs Group raised their price objective on Chart Industries from $150.00 to $168.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Morgan Stanley assumed coverage on Chart Industries in a research report on Thursday, April 18th. They issued an “equal weight” rating and a $200.00 price objective for the company. Barclays assumed coverage on Chart Industries in a research report on Wednesday, May 8th. They set an “equal weight” rating and a $193.00 target price for the company. Finally, Stifel Nicolaus cut their target price on Chart Industries from $224.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.83.

Chart Industries Price Performance

GTLS stock traded down $27.84 during midday trading on Friday, reaching $126.01. 2,100,275 shares of the company’s stock traded hands, compared to its average volume of 489,984. The company has a 50-day simple moving average of $149.82 and a two-hundred day simple moving average of $145.39. Chart Industries, Inc. has a 1-year low of $109.48 and a 1-year high of $184.65. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 126.01, a PEG ratio of 0.44 and a beta of 1.74. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 1.29.

Chart Industries (NYSE:GTLS) last released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.39). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.11 billion. Chart Industries had a net margin of 1.59% and a return on equity of 9.49%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 earnings per share. On average, analysts anticipate that Chart Industries, Inc. will post 11.56 earnings per share for the current year.

Chart Industries Profile

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.