Chart Industries (NYSE:GTLS) Shares Gap Up – Still a Buy?

Chart Industries, Inc. (NYSE:GTLS) shares gapped up prior to trading on Friday . The stock had previously closed at $120.72, but opened at $126.51. Chart Industries shares last traded at $133.91, with a volume of 475,415 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GTLS shares. The Goldman Sachs Group reduced their price objective on Chart Industries from $168.00 to $144.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Barclays reduced their price target on Chart Industries from $147.00 to $146.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Evercore ISI upgraded shares of Chart Industries to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley upgraded shares of Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 target price for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company cut their price target on shares of Chart Industries from $151.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Three investment 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 company’s stock. According to MarketBeat.com, Chart Industries presently has a consensus rating of “Moderate Buy” and an average price target of $178.00.

Chart Industries Stock Up 7.7 %

The stock has a market cap of $5.57 billion, a P/E ratio of 63.41, a price-to-earnings-growth ratio of 0.56 and a beta of 1.71. The firm has a 50 day simple moving average of $121.62 and a 200-day simple moving average of $137.05. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 1.28.

Chart Industries (NYSE:GTLS) last posted 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 2.80% and a return on equity of 12.27%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $1.28 EPS. The firm’s revenue was up 18.3% on a year-over-year basis. On average, equities research analysts forecast that Chart Industries, Inc. will post 9.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jillian C. Evanko purchased 440 shares of the stock in a transaction 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 acquisition, the chief executive officer now directly owns 125,448 shares in the company, valued at $14,339,960.88. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Chart Industries news, Director Paul E. Mahoney bought 500 shares of Chart Industries stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $106.55 per share, with a total value of $53,275.00. Following the completion of the transaction, the director now owns 2,107 shares in the company, valued at $224,500.85. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jillian C. Evanko purchased 440 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of $114.31 per share, for a total transaction of $50,296.40. Following the completion of the transaction, the chief executive officer now owns 125,448 shares of the company’s stock, valued at $14,339,960.88. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 7,152 shares of company stock valued at $482,278. Company insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chart Industries in the first quarter valued at approximately $30,000. Byrne Asset Management LLC bought a new stake in shares of Chart Industries during the 2nd quarter valued at $40,000. UMB Bank n.a. grew its holdings 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 purchasing an additional 255 shares in the last quarter. Ecofi Investissements SA acquired a new stake in shares of Chart Industries during the 2nd quarter worth $50,000. Finally, Covestor Ltd raised its stake in Chart Industries by 509.8% in the first quarter. Covestor Ltd now owns 372 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 311 shares in the last quarter.

Chart Industries Company 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.