Chart Industries (NYSE:GTLS) Stock prices down 7.8%


The stock price of Chart Industries, Inc. (NYSE: GTLS – Get Rating) fell 7.8% during Friday’s midday session. The company traded as low as $154.38 and last traded at $154.38. 2,832 shares changed hands during trading, down 100% from the average session volume of 577,510 shares. The stock previously closed at $167.38.

A number of brokerages have published reports on GTLS. Cowen set a target price of $195.00 on Chart Industries in a Monday, June 20 research report. Wells Fargo & Company raised its target price on Chart Industries from $200.00 to $205.00 in a Monday, May 2 research report. Bank of America upgraded Chart Industries from a “neutral” rating to a “buy” rating in a Friday, March 11 research report. StockNews.com raised Chart Industries to a “sell” rating in a Tuesday, March 22 research report. Finally, Barclays downgraded Chart Industries from an “overweight” rating to an “equal weight” rating and set a price target of $189.00 for the company. in a Wednesday, June 8 research report. One research analyst gave the stock a sell rating, four gave the company a hold rating and twelve gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “moderate buy” and an average price target of $198.33.

The company has a 50-day moving average of $169.67 and a 200-day moving average of $155.87. The company has a debt ratio of 0.37, a current ratio of 1.23 and a quick ratio of 0.77. The company has a market capitalization of $5.77 billion, a price-earnings ratio of 109.42 and a beta of 1.61.

Chart Industries (NYSE:GTLS – Get Rating) last released its results on Friday, April 29. The industrial products company reported EPS of $0.62 for the quarter, beating consensus analyst estimates of $0.57 by $0.05. Chart Industries had a return on equity of 7.70% and a net margin of 4.49%. The company posted revenue of $354.10 million in the quarter, compared to analyst estimates of $354.18 million. In the same period a year earlier, the company posted earnings per share of $0.74. Chart Industries revenue increased 22.7% year over year. On average, sell-side analysts expect Chart Industries, Inc. to post 5.18 EPS for the current fiscal year.

A number of institutional investors have recently increased or reduced their stake in GTLS. Capital World Investors increased its stake in Chart Industries by 44.2% during the fourth quarter. Capital World Investors now owns 3,793,671 shares of the industrial products company worth $605,053,000 after acquiring 1,161,995 additional shares last quarter. Wellington Management Group LLP increased its stake in Chart Industries by 63.1% during the first quarter. Wellington Management Group LLP now owns 1,339,412 shares of the industrial products company worth $230,071,000 after acquiring an additional 517,951 shares last quarter. Nordea Investment Management AB increased its stake in Chart Industries by 22.9% during the first quarter. Nordea Investment Management AB now owns 1,444,114 shares of the industrial products company worth $254,763,000 after acquiring an additional 269,051 shares last quarter. Goldman Sachs Group Inc. increased its holdings of Chart Industries shares by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,025,908 shares of the industrial products company worth $176,220,000 after buying an additional 257,402 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Chart Industries during the fourth quarter at a value of $40,670,000.

Company Profile Chart of Industries (NYSE: GTLS)

Chart Industries, Inc. manufactures and sells engineered equipment for the power and industrial gas industries worldwide. The Company operates through four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service & Leasing. It provides bulk and packaged cryogenic gas solutions for the storage, distribution, vaporization and application of industrial gases; cryogenic trailers, ISO containers, bulk storage tanks, loading facilities and regasification equipment for the delivery of liquefied natural gas (LNG) in virtual pipeline applications; and large vacuum-insulated storage tanks as equipment for standard liquefaction plant buyers.

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Karen J. Nelson