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

Chart Industries, Inc. (NYSE:GTLS) shares traded down 17.5% during trading on Thursday . The stock traded as low as $124.82 and last traded at $124.88. 749,036 shares were traded 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 Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of Chart Industries from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Stifel Nicolaus lifted their target price on Chart Industries from $200.00 to $231.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. BTIG Research increased their price target on Chart Industries from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company decreased their price target on Chart Industries from $214.00 to $208.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Citigroup upped their price objective on Chart Industries from $190.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Three equities 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.83.

Chart Industries Price Performance

The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 0.57 and a beta of 1.87. The company’s 50-day simple moving average is $177.40 and its 200-day simple moving average is $169.07. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.00.

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

Insider Activity at Chart Industries

In related news, CEO Jillian C. Evanko acquired 350 shares of the stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $150.35 per share, for a total transaction of $52,622.50. Following the purchase, the chief executive officer now directly owns 137,666 shares in the company, valued at approximately $20,698,083.10. The trade was a 0.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Gerald F. Vinci acquired 175 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $147.89 per share, with a total value of $25,880.75. Following the completion of the acquisition, the vice president now directly owns 475 shares in the company, valued at approximately $70,247.75. This represents a 58.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,109 shares of company stock worth $160,845. Corporate insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

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