Chart Industries (NYSE:GTLS) Shares Down 17.5% – Here’s Why

Chart Industries, Inc. (NYSE:GTLS) traded down 17.5% during mid-day trading on Thursday . The company traded as low as $124.82 and last traded at $124.88. 749,036 shares traded hands during trading, an increase of 10% from the average session volume of 678,427 shares. The stock had previously closed at $151.31.

Wall Street Analysts Forecast Growth

GTLS has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on shares of Chart Industries from $200.00 to $231.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Barclays boosted their price objective on Chart Industries from $145.00 to $165.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Wells Fargo & Company lowered their target price on Chart Industries from $214.00 to $208.00 and set an “overweight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group boosted their price target on Chart Industries from $138.00 to $201.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Finally, Citigroup increased their price objective on Chart Industries from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.83.

Chart Industries Stock Down 7.4 %

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 firm has a 50 day moving average of $173.52 and a two-hundred day moving average of $168.75. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 0.57 and a beta of 1.87.

Chart Industries (NYSE:GTLS) last announced its quarterly earnings results on Friday, February 28th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.20 by ($0.54). The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.17 billion. Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. As a group, sell-side analysts anticipate that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Gerald F. Vinci purchased 175 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $147.89 per share, with a total value of $25,880.75. Following the completion of the purchase, the vice president now owns 475 shares in the company, valued at approximately $70,247.75. This represents a 58.33 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda S. Harty acquired 500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $140.85 per share, for a total transaction of $70,425.00. Following the completion of the purchase, the director now owns 11,684 shares of the company’s stock, valued at $1,645,691.40. This trade represents a 4.47 % 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 valued at $160,845 in the last ninety days. 0.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chart Industries

Several hedge funds and other institutional investors have recently bought and sold shares of GTLS. Capital Analysts LLC bought a new stake in shares of Chart Industries in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC raised its holdings in shares of Chart Industries by 129.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 163 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 92 shares during the period. Fairway Wealth LLC bought a new position in shares of Chart Industries during the 4th quarter worth about $34,000. Blue Trust Inc. grew its stake in shares of Chart Industries by 56.0% in the 4th quarter. Blue Trust Inc. now owns 181 shares of the industrial products company’s stock valued at $35,000 after buying an additional 65 shares during the period. Finally, Spire Wealth Management raised its stake in Chart Industries by 183.8% during the 4th quarter. Spire Wealth Management now owns 193 shares of the industrial products company’s stock worth $37,000 after buying an additional 125 shares during the period.

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.