Chart Industries (NYSE:GTLS) Sets New 52-Week High – Here’s What Happened

Chart Industries, Inc. (NYSE:GTLS)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $176.49 and last traded at $175.96, with a volume of 225792 shares traded. The stock had previously closed at $168.62.

Wall Street Analyst Weigh In

Several research firms have issued reports on GTLS. Stifel Nicolaus raised their price target on shares of Chart Industries from $198.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Barclays lowered their price objective on Chart Industries from $146.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Evercore ISI upgraded Chart Industries to a “strong-buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group dropped their price objective on shares of Chart Industries from $168.00 to $144.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Morgan Stanley raised shares of Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 target price on the stock in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $178.82.

Chart Industries Price Performance

The stock has a market cap of $7.87 billion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 0.90 and a beta of 1.71. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 1.16. The company’s fifty day moving average is $136.66 and its 200 day moving average is $138.82.

Chart Industries (NYSE:GTLS) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.18 EPS 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 during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the business posted $1.28 EPS. The business’s revenue was up 18.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Chart Industries, Inc. will post 9.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Chart Industries

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Chart Industries in the third quarter worth $251,000. Teachers Retirement System of The State of Kentucky boosted its stake in Chart Industries by 7.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,785 shares of the industrial products company’s stock valued at $3,822,000 after acquiring an additional 2,211 shares during the last quarter. Geode Capital Management LLC grew its holdings in Chart Industries by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 993,199 shares of the industrial products company’s stock worth $123,318,000 after acquiring an additional 19,534 shares in the last quarter. Bullseye Asset Management LLC bought a new stake in shares of Chart Industries in the 3rd quarter worth about $270,000. Finally, M&T Bank Corp acquired a new stake in shares of Chart Industries in the 3rd quarter valued at about $231,000.

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.