Chart Industries (NYSE:GTLS) Shares Gap Up Following Earnings Beat

Chart Industries, Inc. (NYSE:GTLS)’s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $134.98, but opened at $151.72. Chart Industries shares last traded at $144.74, with a volume of 82,908 shares trading hands.

The industrial products company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.84 by $0.02. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.02 billion. Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. Chart Industries’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GTLS shares. The Goldman Sachs Group reduced their target price on Chart Industries from $197.00 to $173.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. TD Cowen reduced their price objective on shares of Chart Industries from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus lowered their target price on shares of Chart Industries from $231.00 to $214.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on Chart Industries from $214.00 to $208.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 1st. Finally, Barclays cut their price objective on Chart Industries from $165.00 to $160.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Chart Industries has a consensus rating of “Moderate Buy” and a consensus price target of $197.25.

Insiders Place Their Bets

In related news, Director Linda S. Harty acquired 500 shares of the stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $140.85 per share, for a total transaction of $70,425.00. Following the purchase, the director now owns 11,684 shares in the company, valued at approximately $1,645,691.40. This trade represents a 4.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gerald F. Vinci purchased 175 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $147.89 per share, for a total transaction of $25,880.75. Following the purchase, the vice president now owns 475 shares in the company, valued at $70,247.75. This represents a 58.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,109 shares of company stock worth $160,845 over the last 90 days. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Chart Industries

Several institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its stake in shares of Chart Industries by 248.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 22,257 shares of the industrial products company’s stock valued at $2,744,000 after acquiring an additional 15,862 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. raised its position in Chart Industries by 26.7% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,500 shares of the industrial products company’s stock valued at $1,813,000 after purchasing an additional 2,000 shares during the last quarter. Connective Portfolio Management LLC bought a new stake in shares of Chart Industries during the fourth quarter worth $725,000. Principal Financial Group Inc. increased its stake in shares of Chart Industries by 4.2% in the third quarter. Principal Financial Group Inc. now owns 802,907 shares of the industrial products company’s stock valued at $99,673,000 after buying an additional 32,442 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Chart Industries in the fourth quarter valued at about $410,000.

Chart Industries Trading Up 3.6 %

The company’s 50-day moving average is $143.01 and its 200-day moving average is $169.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.27. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 0.57 and a beta of 1.68.

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.