Chart Industries (NYSE:GTLS) Shares Gap Up Following Analyst Upgrade

Chart Industries, Inc. (NYSE:GTLS) shares gapped up before the market opened on Tuesday after Citigroup raised their price target on the stock from $200.00 to $215.00. The stock had previously closed at $171.26, but opened at $175.10. Chart Industries shares last traded at $172.24, with a volume of 9,254 shares changing hands.

GTLS has been the subject of several other reports. Wells Fargo & Company upgraded Chart Industries from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $162.00 to $224.00 in a report on Wednesday, August 9th. 22nd Century Group reiterated a “maintains” rating on shares of Chart Industries in a report on Friday, June 30th. Capital One Financial assumed coverage on Chart Industries in a report on Friday, July 14th. They set an “equal weight” rating and a $174.00 price objective for the company. Craig Hallum increased their price objective on Chart Industries from $208.00 to $234.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, CL King increased their price objective on Chart Industries from $165.00 to $193.00 in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC boosted its holdings in shares of Chart Industries by 164.6% during the first quarter. Belpointe Asset Management LLC now owns 217 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 135 shares during the period. KB Financial Partners LLC purchased a new stake in shares of Chart Industries during the first quarter worth about $28,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Chart Industries during the second quarter worth about $38,000. Pinebridge Investments L.P. purchased a new stake in shares of Chart Industries during the second quarter worth about $39,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Chart Industries by 59.0% during the second quarter. Harbor Investment Advisory LLC now owns 248 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 92 shares during the period.

Chart Industries Trading Up 0.6 %

The company has a quick ratio of 1.04, a current ratio of 1.38 and a debt-to-equity ratio of 1.44. The stock’s fifty day moving average price is $169.65 and its two-hundred day moving average price is $141.84. The company has a market capitalization of $7.36 billion, a PE ratio of -372.69, a price-to-earnings-growth ratio of 0.62 and a beta of 1.56.

Chart Industries (NYSE:GTLS) last announced its quarterly earnings results on Friday, July 28th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.25. Chart Industries had a negative net margin of 0.28% and a positive return on equity of 8.21%. The company had revenue of $908.10 million during the quarter, compared to the consensus estimate of $971.28 million. During the same quarter last year, the firm earned $0.88 earnings per share. The firm’s quarterly revenue was up 124.3% compared to the same quarter last year. Sell-side analysts anticipate that Chart Industries, Inc. will post 6.28 earnings per share for the current year.

About Chart Industries

Chart Industries, Inc manufactures and sells engineered cryogenic equipment for the industrial gas and clean energy markets in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.